Download full report with analyst certification and important disclosures
Jan 13 2022, 08:10 GMT
Persimmon missed its home completions target for 2021, delivering a 7% increase in deliveries versus its guidance of 10%. While that was delivered at an impressive 28% margin, the full year result is likely to come in below estimates. While long-term demand trends remain positive, the group continued to see negative impacts from COVID (staff absenteeism, customer delays), steep build cost inflation (+5%) and planning issues, which weighed on performance.