REG - Persimmon Plc - Q3 Trading Statement

PersimmonAnnouncement

Today 07:00

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RNS Number : 3029H  Persimmon PLC  13 November 2025

 

13 November 2025

Trading statement

 

Continued growth through a differentiated platform; on track for full year

 

Persimmon Plc is today providing an update on trading for the period from 1
July 2025.

 

Dean Finch, Group Chief Executive, commented:

 

"Persimmon has performed well during 2025, in a challenging market, with
increased sales rates, more sales outlets, and robust pricing. This
demonstrates the benefit of the investment made in the business in recent
years. Our forward sales are up 15% and we remain on track to deliver our 2025
performance in line with market expectations(1).

 

"While we are mindful of the current macroeconomic environment and the
short-term challenges facing our industry, we are confident in the underlying
strength of the market over the medium term. Leveraging our differentiated
platform, including our investment in land, continued success on securing
planning consents, vertical integration and our commitment to quality and
customer service, we are investing to position the business for future
success."

Highlights

                                                                2025      2024      Change
 Net private sales per outlet per week(2)                       0.76      0.70      +9%
 Current forward sales(3)                                       £2.79bn   £2.42bn   +15%
 Of which private forward sales(3)                              £2.09bn   £1.82bn   +15%
 Average sales outlets(4)                                       272       262       +4%
 Land holdings (plots owned and under control) at 30 September  c.83,800  c.81,500  +3%

 

(1)Company compiled full year 2025 consensus at 3 November was 11,293 homes
and underlying profit before tax of £429m.

(2)Net private sales rate per outlet per week for the period since 1 July to 2
November 2025 (3 November 2024). Excluding bulk sales 0.63 (2024: 0.61).

(3)Current forward sales, including legal completions since 1 July, is stated
as at 2 November 2025 for 2025 and as at 3 November 2024 for 2024

(4)For the period since 1 July to 2 November 2025 (3 November 2024)

 

Trading

 

The Group traded in line with expectations during the period.

Our current private forward sales position has increased 15% to £2.09bn. We
are well positioned to achieve our planned growth in 2025, with 83% of this
year's expected private delivery already exchanged or completed (2024: 85%).

 

Our sales rate increased to 0.76 net private sales per outlet per week, or
0.63 when excluding bulk sales, representing an increase of 3% on the prior
year (2024: 0.61). On a total sales per week basis, this equates to growth of
14% to 208 sales per week (2024: 183), reflecting the benefits of our
expanding outlet base and broad geographic coverage across the UK.

This progress has been achieved despite some softening in the market since the
summer, with consumer confidence affected by ongoing uncertainties including
the upcoming Government budget.

The private average selling price in the forward order book has remained
robust at c.£295,150 (30 June 2025:  £291,514) and is up 1.5% on the
position at the same point last year, with total incentives remaining at
around 4-5% on average.

 

Affordability and value remain key for our customers, and our core Persimmon
brand continues to perform well as a result of its broad geographic reach and
strong value proposition. Responding to the affordability challenge, during
the period we launched our second shared equity product, Rezide, which
complements the New Build Boost product launched earlier this year. Our
premium Charles Church brand also continues to perform well, following its
successful relaunch earlier this year.

 

Land spend in the third quarter was £127m (2024: £123m) of which £46m
related to the settlement of land creditors (2024: £47m). This brings our
total land spend in the year to £336m (2024: £318m). Our owned and under
control land holdings stood at c.83,800 plots at 30 September 2025 (30
September 2024: c.81,500). Alongside land investment and an increase in our
strategic land capabilities, we continue to have good planning success with
7,753 plots achieving detailed or reserved matters approval in the year to 30
September (2024: 7,175), supporting our outlet and volume growth ambitions. We
opened 16 new outlets in the period, including 7 new Charles Church sites as
we continue to target doubling the scale of this business compared to 2024's
level. We operated from an average of 272 outlets, up 4% on the prior year
(2024: 262).

 

We continue to anticipate a cash balance of between £0m and £200m at the end
of the current financial year. As previously stated, we expect to continue our
investment in our future capabilities during 2026, utilising our strong
financial position, which will increase our financing costs in the short term.
We continue to make good progress with our fire safety remediation commitment
and continue to expect that the bulk of works will be completed over the
course of the next two years.

 

Outlook

We are pleased with our 2025 performance so far, in challenging market
conditions. The investment made in the business over recent years has
positioned us well, allowing us to operate from a growing outlet base and to
deliver an improved sales rate.  We are on track to deliver our 2025
performance in line with market expectations.

 

We remain mindful of affordability constraints and the potential impact the
upcoming Government budget might have on our private customers and on our
institutional build-to-rent and affordable housing partners. Our market
fundamentals remain strong and we are confident the business will increase
margins, returns and shareholder value, as previously outlined, over the
medium term.

 

Our next update is due on 13 January 2026 with our full year 2025 Trading
Update.

 

Persimmon will host a conference call with analysts at 09.00am today. All
participants must pre-register to join this conference using the Participant
Registration link. Once registered, an email will be sent with important
details for this conference, as well as a unique Registrant ID.

 

Participant registration page:

https://register-conf.media-server.com/register/BIa2e2cfa792fc4732b38f1b8c8bc59c19
(https://register-conf.media-server.com/register/BIa2e2cfa792fc4732b38f1b8c8bc59c19)

 

 

For further information please contact:

 Victoria Prior, Group IR Director            Giles Kernick, Teneo

 Anthony Vigor, Group Director of Strategic   Elizabeth Snow, Teneo

 Partnerships and External Affairs

 Persimmon Plc                                persimmon@teneo.com
 Tel: +44 (0) 1904 642199                     Tel: +44 (0) 7912 540 246

 

 

Appendix:

                2025              2024             Variance
 Forward sales  Value     Homes   Value     Homes  Value  Homes
 Private        £2.09bn   7,084   £1.82bn   6,256  15%    13%
 Partnership    £0.70bn   4,355   £0.60bn   3,736  17%    17%
 Total          £2.79bn   11,439  £2.42bn   9,992  15%    14%

( )

Current forward sales, including legal completions since 1 July, is stated as
at 2 November 2025 for 2025 figure and as at 3 November 2024 for 2024 figure.

Cautionary statements

Some of the information in this document may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Persimmon Plc and its subsidiaries (the Group). You can
identify forward-looking statements by the terms such as "expect", "believe",
"anticipate", "estimate", "intend", "will", "could", "may" or "might", the
negative of such terms or similar expressions. Persimmon Plc (the Company)
wishes to caution you that these statements are only predictions and that
actual events or results may differ materially and as such undue reliance
should not be placed on these statements. The Company does not intend to
update these statements to reflect events and circumstances occurring after
the date hereof or to reflect the occurrence of unanticipated events. Many
factors could cause the actual results to differ materially from those
contained in projections or forward-looking statements of the Group, including
among others, general economic conditions, the competitive environment as well
as many other risks specifically related to the Group and its operations. Past
performance of the Group cannot be relied on as a guide to future performance.

 

Please see the most recent Annual Report and Accounts of Persimmon plc and
other disclosures through the Regulatory News Service ("RNS") for further
details of risks, uncertainties and other factors relevant to the business and
its securities.

 

The information in this trading statement is unaudited.

 

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