TEESSIDE SCAFFOLDER
Well-known member
The Teesside factor boost Persimmon Homes
by Mike Hughes, Evening GazetteFeb 29 2012
THE success of Persimmon Homes’ Teesside region has been cited as an instrumental factor in the company’s impressive results.
After the developers released encouraging 2011 sales figures, with revenues at £1.54 billion, its Teesside provision of homes was seen as a driving force behind the success.
Neil Foster, managing director of Persimmon Teesside, said more than 100 new jobs were created in the region in 2011, with eight developments opening.
The company’s Charles Church brand has also unveiled a new show home concept at its Ashbrook development in Ingleby, the first in the UK.
Mr Foster said: “The new jobs since the beginning of 2011 and new developments during the year underline our belief that the housing market is improving and offering a great deal of hope to us all in the months to come.”
He expects 2012 to be similarly encouraging for the Persimmon Teesside region, with four new developments opening later in the year in Middlesbrough as well as Durham, Shildon and Seaton Carew.
He added: “Times have been tough across the industry, but we do have reason to be optimistic.”
Sales revenues for the year ended 31 December 2011 were £1.54 billion (2010: £1.57 billion). Underlying pre-tax profits, stated before exceptional items and goodwill charges of £148.1 million were 55% ahead of £95.5 million achieved in the prior year.
Mr Foster said that an increase in underlying profit, strong cash flow and a major announcement to return capital of £1.9 billion to shareholders over the next decade, puts the company in an extremely strong position.
“Today’s long-term capital return announcement supports the development of the group into a stronger, larger business over the next decade, enabling us to continue to deliver quality homes into the local community.
“The results are supported by an excellent start to 2012, with our weekly private sales rate per site circa 22% ahead of the prior year in the first eight weeks of 2012.”
by Mike Hughes, Evening GazetteFeb 29 2012
THE success of Persimmon Homes’ Teesside region has been cited as an instrumental factor in the company’s impressive results.
After the developers released encouraging 2011 sales figures, with revenues at £1.54 billion, its Teesside provision of homes was seen as a driving force behind the success.
Neil Foster, managing director of Persimmon Teesside, said more than 100 new jobs were created in the region in 2011, with eight developments opening.
The company’s Charles Church brand has also unveiled a new show home concept at its Ashbrook development in Ingleby, the first in the UK.
Mr Foster said: “The new jobs since the beginning of 2011 and new developments during the year underline our belief that the housing market is improving and offering a great deal of hope to us all in the months to come.”
He expects 2012 to be similarly encouraging for the Persimmon Teesside region, with four new developments opening later in the year in Middlesbrough as well as Durham, Shildon and Seaton Carew.
He added: “Times have been tough across the industry, but we do have reason to be optimistic.”
Sales revenues for the year ended 31 December 2011 were £1.54 billion (2010: £1.57 billion). Underlying pre-tax profits, stated before exceptional items and goodwill charges of £148.1 million were 55% ahead of £95.5 million achieved in the prior year.
Mr Foster said that an increase in underlying profit, strong cash flow and a major announcement to return capital of £1.9 billion to shareholders over the next decade, puts the company in an extremely strong position.
“Today’s long-term capital return announcement supports the development of the group into a stronger, larger business over the next decade, enabling us to continue to deliver quality homes into the local community.
“The results are supported by an excellent start to 2012, with our weekly private sales rate per site circa 22% ahead of the prior year in the first eight weeks of 2012.”
