Persimmon (PSN) Trading Update summary

Trading performance and sales

• Private forward sales rose 17% to £1.68bn, with total forward sales up 12% to £2.34bn as of 27 April 2025.

• Net private sales per outlet per week increased 3% to 0.65, and average private selling price climbed 4% to about £293,300.

• Customer interest remains strong, supported by new marketing initiatives like "New Build Boost" offering a 15% interest-free equity loan.

• Outlet network expanded by 5% to 275, with 27 new outlets opened and a target of at least 300 outlets.

• Land holdings grew to approximately 83,800 plots, with 2,781 plots gaining planning approval in Q1 2025.

Outlook and guidance

• On track to deliver 11,000–11,500 home completions in 2025, with over half of private homes and nearly all housing association homes already secured.

• No immediate impact observed from geopolitical or macroeconomic uncertainty; indirect effects from US tariffs expected to be limited.

• Market fundamentals remain strong, with expectations to increase margins, returns, and shareholder value over the medium term.

• Delivery weighting for 2025 expected to be similar to 2024, supported by recent investments and outlet growth.

Operational highlights

• Retained 5-star homebuilder status, reflecting continued focus on customer service.

• Gross land spend in Q1 2025 was £128m, with £76m for settlement of land creditors.

• Planning reforms and government measures are expected to provide further momentum for future growth.