Persimmon (PSN) Trading update summary

Trading performance

• Net private sales per outlet per week rose 3% to 0.76, with forward sales up 5% to £2.46bn.

• Private forward sales increased 7% to £1.80bn, with average selling price up 5% to £306,900.

• Average outlets grew 2% to 273, and land holdings increased 1% to about 84,900 plots.

• Incentives remain stable at 4-5%, and planning approvals reached 3,080 plots in Q1.

• Trading remains resilient despite geopolitical uncertainty and early inflationary pressures.

Outlook and strategic focus

• Completions for 2026 are expected between 12,000 and 12,500 homes, with over half of private homes already secured.

• Profit before tax is anticipated to be in line with consensus of £462m for 2026.

• Early signs of supply chain inflation are being managed through supplier relationships and cost reviews.

• Continued investment in brands, vertical integration, and land bank aims to boost margins and returns.

• Institutional customer engagement remains strong, with 19 new partners added in the past year.