UK's Persimmon H1 new housing revenue rises 13%

Persimmon

06/08/2026 07:14

Overview
UK housebuilder reported H1 new housing revenue up 13% and completions up 13% yr/yr
Underlying operating profit rose 10% and underlying pretax profit increased 3% yr/yr
Company maintained interim dividend at 20p per share

Outlook
Persimmon expects around 12,500 completions for full yr 2026, at upper end of previous guidance
Company sees 2026 underlying profit before tax in line with market expectations
Persimmon anticipates additional inflationary pressure in 2027, partly due to Middle East conflict

Result Drivers
VOLUME GROWTH - Higher home completions and market share drove revenue and profit increases, per CEO Dean Finch
BRAND DIVERSIFICATION - Growth across Persimmon Homes, Charles Church, and Westbury Partnerships broadened customer reach and improved sales mix
VERTICAL INTEGRATION & COST ACTIONS - Increased use of Space4 timber frame and procurement savings helped mitigate build cost inflation

Company press release: ID:nRSF4783Pa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Adjusted Operating Margin
 
12.80%
 
H1 Adjusted Operating Profit
 
GBP 189.10 mln
 
H1 Adjusted Pretax Profit
 
GBP 170.10 mln
 
H1 Dividend
 
GBP 0.20
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the homebuilding peer group is "buy"
Wall Street's median 12-month price target for Persimmon PLC is GBp1,330.00, about 18.4% above its August 5 closing price of GBp1,123.00
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

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Aug 6 - Norway's Selvaag Bolig H1 home sales value hits record high

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)