Firm hit by credit crunch
Published Date:
26 August 2008
LATEST figures from Persimmon PLC, parent company of Fulford based Persimmon Homes Yorkshire, show how the company has been affected by the credit crunch.
The firm has announced its half year results for the six months to June 30. During the period, the completion of 5,501 units (H1 2007: 8,002) at an average selling price of £181,485 (H1 2007: £189,255) has generated pre-tax profits of £100.9 million (before exceptional items).
The operating margin was 14.0 per cent (H1 2007: 20.8 per cent).
This combination of lower volumes and reduced average selling price, partly as a consequence of an increasing proportion of affordable housing, produced a turnover of £998.4 million, which was a reduction of 34 per cent on the same period last year (H1 2007: £1,514 million).
Underlying earnings per share decreased to 24.1p (H1 2007: 65.5p), reflecting the deterioration in trading conditions.
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Last Updated:
26 August 2008 1:26 PM
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Source:
n/a
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Location:
Driffield
