27/02/13

Housebuilder Persimmon lays foundation for 1,500 homes

Persimmon creates jobs after strong year. Library picture

Housebuilder Persimmon Homes, which now owns Kent company Hillreed, helped to create more than 1,600 jobs last year, according to its regional boss.

The claim came after Persimmon confirmed it was on track to pay shareholders £1.9bn over the next nine years after a strong year.

Chris Heney, south east director, said legal completions rose by 6% to 9,900 in 2012, at an average selling price of £175, 640. Sales revenue rose by 12% to £1.72bn (2011: £1.54m).

The group’s profitability continued to improve and operating margins for 2012 increased to 13% (2011: 10%). In the second half of 2012.

Mr Heney said the opening of new sites was pivotal to the success of the business.

“Overall, the group opened 125 new sites during 2012 and here in the South East we played our part with our ongoing developments throughout Kent, Surrey, East and West Sussex and new ones opening in Dartford, Hailsham, West Malling and Lower Halstow.

“This all helped with local employment. Research shows that for every new home built, up to five new jobs are created so in the region last year we supported 1,640 jobs in the region.”

He was optimistic that 2013 would be even busier, with plans to open a further 10 sites, including Iwade, Maidstone, Westgate on Sea and Chatham.

Mr Heney added that the strong performance was critical to the group’s wider objectives.

“The strategy aims to return £1.9bn (£6.20 per share) of surplus capital to shareholders over a nine and a half year period ending in 2021, whilst at the same time building a stronger, larger business.”

Shareholders will receive 75p a share on June 28, subject to their approval.