Persimmon, Taylor Wimpey and Vistry to set housebuidling tone next week
A clutch of the UK's top housebuilders step up next week in a big week for UK PLC generally. Vistry, Taylor Wimpey and Persimmon all release updates and with housebuilding one of the key planks of this government's industrial strategy, how they viewed the Budget will be worth noting.
Is Persimmon (PSMMY) Outperforming Other Construction Stocks This Year?
Here is how Persimmon Plc (PSMMY) and RPM International (RPM) have performed compared to their sector so far this year.
Housebuilder Persimmon's optimistic tone is 'music to the ears of government'
Housebuilder Persimmon PLC (LSE:PSN) delivered first-half results that would have impressed the new Labour government and investors, with accelerating numbers of new housing completions and profits ahead of forecasts. Management commented that consumer confidence continues to improve with a strong pick up in enquiries and visitor levels since the general election in early July.
Persimmon half-year profits remain flat but pick-up since election provides encouragement
Persimmon PLC (LSE:PSN) reported flat profit for the first half of the year and said it was encouraged by looser planning laws under the new Labour government. The FTSE 100 housebuilder completed 4,445 new home sales in the first six months of 2024, up 5% on the year before, turning around from a fall of 10% in the first quarter.
Persimmon should be buoyed by base rate cut
Persimmon PLC (LSE:PSN) has been recovering after a difficult 2023 with the shares up more than 60% since their lows of nine months ago. First-quarter trading at the housebuilder showed higher sales rates alongside a growing order book.
Persimmon takeover of L&G's Cala wing would boost insurer's investment thesis - analyst
A takeover of FTSE 100-listed insurer Legal & General Group PLC (LSE:LGEN)'s housebuilding subsidiary Cala by fellow footsie constituent Persimmon PLC (LSE:PSN) would be a boon to the former's share price, according to Deutsche Bank analyst Rhea Shah. “City sources” told Sky over the long weekend that Persimmon is interested in the £1 billion auction.
