Investors sweet after Persimmon H1 update

The price of shares in FTSE 100 housebuilder Persimmon (LON:PSN) rose by 6.29% to 2,586p (as of 11:15 BST) after the company provided an update for the six months ended 30th June. Revenues for the half year were down by 32% as completions and sales were restricted by COVID precautions. Average sales prices continued to grow and sales activity has resumed strongly since business restriction were relaxed. Full-year guidance has not been resumed and dividends for 2019 will be reevaluated during the second half.

CEO Dave Jenkinson commented: “Our financial strength and the agility of the business in responding to Covid-19 has ensured Persimmon is in robust health, and fully able to play its part in delivering the new homes the country needs to support the UK’s recovery, in a range of future economic scenarios“.