Wow - An Astonishingly Outstanding RNS Update, Thank You PSN Team!11 Mar 2025 07:12
A truly unexpected but obviously extremely impressive update along with fantastic outlook here for a now clearly bery much oversold & undervalued PSN, should be an excellent day/week ahead for PSN which is clearly by far the most Undervalued & Oversold UK housebuilders!
“We entered 2025 with an improved forward order book and have continued to add to it since the start of the year. In the first nine weeks of 2025, our net private sales rate per outlet per week was 0.67, up 14% compared to the same period last year (2024: 0.59). Combined with a 3% increase in the private average selling price to £288,542 (2024: £279,282), our current private forward order book is £1.15bn, 27% higher year on year (2024: £0.90bn).
Given this progress in our forward order book and an anticipated increase in the delivery of affordable homes, we are targeting 11,000-11,500 completions in 2025. Alongside this we are targeting further growth in profit and returns, in line with market expectations, and an improved underlying operating margin in 2025. Although we are mindful of the potential impact from ongoing macroeconomic and geopolitical uncertainties, the underlying market fundamentals remain strong. Persimmon is well positioned to benefit from our disciplined investment in land and operational improvements of recent years. Our medium-term ambition is to deliver an underlying operating margin and ROCE of 20%.”
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