Markets uninspired by Persimmon results

FTSE 100 housebuilder Persimmon (LON:PSN) reported a 2.4% drop in revenues for the year ended 31st December with 4% fewer new homes sold. Pre-tax profits were 4.5% below the prior year.

CEO David  Jenkinson commented: “Improving build quality and the service delivered to our customers were our top priorities throughout 2019. Putting customers before volume is at the heart of our customer care improvement plan and, as a result, new home legal completion volumes were 4% lower year on year. Having commissioned the Independent Review in April, we were clear that we would not delay action until its completion in December and were engaged on a broad range of customer service and quality improvement initiatives throughout the year. We are confident these initiatives will add to our momentum this year“.

Shares in Persimmon fell by 5.65% to 2,904p (as of 14:40 GMT).