Persimmon reservations down March 3rd, 2008
Persimmon has reported that reservations were down sharply and its forward order book is down from £1.3bn last year to £1.05bn, a fall of 19%. Other key performance indicators don’t make positive reading - cancellations are up 20% and visitors to sites are down 13%. The news confirms the woes of the property sector.
Despite the bad news coming from Persimmon, the company managed to record a 1% rise in profits for 2007, up to £585.1m. Whilst the number of houses sold fell by 5%, the average price increased from £188,129 to £189,558. Not surprisingly, Persimmon has a cautious approach to future prospects.
