Persimmon sees FY profit at top end of views

Published 10th Jan 2011

Housebuilder Persimmon said underlying pretax profit for 2010 will be at the top end of market views, despite bad weather knocking sales before Christmas.

The UK's largest homebuilder by market value said it completed 9,384 homes in the year ended Dec 31, against 8,976 last year. Prices rose by 6 percent to 167,000 pounds, lifting turnover by 10 percent to 1.57 billion pounds.

Analysts are expecting an underlying pretax profit of 85 million pounds for 2010 according to a poll of 21 analysts compiled by the company.

House prices fell in four out of the last six months, rising slightly in December, but activity was knocked by bad weather in the month.

Peer Bellway said on Friday that its full-year results in July will depend heavily on a pick-up in consumer confidence in the crucial Spring selling season as builders gear up for a tough year.

Source: ' Reuters '

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