Peterborough-based house builder gives boost to shareholders after impressive year

Persimmon Homes East Midlands' deputy managing director, Simon McDonald.   Pic - Richard Marsham/RMG Photography  RMG Photography Tel : 07798 758711

Persimmon Homes East Midlands' deputy managing director, Simon McDonald. Pic - Richard Marsham/RMG Photography RMG Photography Tel : 07798 758711

  • Profits before tax up 34 per cent to £637.8 million
  • Number of house completions up
  • Dividend of 110p per share on April 1
  • Average home selling price up 4.5% to £199,127
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The boss of Peterborough-based Persimmon Homes East Midlands has praised staff after the company reported a surge in house sales and profits.

Simon McDonald, deputy managing director of the firm in Commerce Road, Lynch Wood, said his 100 staff in the region had helped deliver a truly outstanding performance last year.

The results are a total team effort and we are delighted to deliver vital new homes across the region.

Simon McDonald, deputy managing director

Nationally, Persimmon Homes saw underlying profits before tax increase by 34 per cent to £637.8 million last year compared to £475 million the previous year.

Legal house completions rose by eight per cent over the same period to 14,572. Full year revenues rose 13 per cent to £2.9 billion.

In the East Midlands the number of completions last year reached 662 from 591 the previous year.

The average selling price nationally rose by 4.5 per cent to £199,127 compared to £190,533 last year.

The performance has allowed the FTSE 100-listed firm to announce it will pay a higher than expected dividend to shareholders of 110p per share on April 1 instead of 10p per share.

It means shareholders are now expected to get a cash return of £2.76bn, or £9 a share, by 2021 - up 45 per cent on the original plan in 2012 to pay £1.9 billion by 2021, or £6.20 a share.

Mr McDonald said: “2015 was an excellent year. The results are a total team effort and we were delighted to deliver vital new homes across the region in areas including Peterborough, Oundle, Boston, Newark-on-Trent, Witham St Hughs. 2016 looks set to be even busier for us with new homes planned to be built in Peterborough, Kirton, Holdingham, Yaxley and Witham.

“As we build further homes, we can create more sustainable jobs in the region both directly and indirectly through the diverse range of local suppliers we work with each day.

“Employing the right people to help us grow the business even further remains a key focus for the team in East Midlands and we have a number of posts available now, with more coming on stream later in the year.”

The business trades under the brand names of Persimmon Homes, Charles Church and Westbury Partnerships.

Persimmon has also been delivering funding to local groups and charities through the Persimmon Community Champions programme.

Launched last March, the team chooses two charities to donate to every month.

Mr McDonald said: “As a business we supported over 600 charities in 2015 and here in the region, we were delighted to donate to around 50 great causes, including Anna’s Hope, Peterborough Gang Show, Notts & Yorkshire Boxer Rescue and Camrowers.”

Persimmon Community Champions will continue in 2016. Charities and groups can be nominated atwww.persimmonhomes.com/charity.