results 202228 Feb 2023 12:09
Persimmon Plc operates as a holding company of the Persimmon Group of companies, which engages in building, designing, and construction of new homes. Its brands include Charles Church, Westbury Partnershisps, Space4, Brickworks, and Tileworks. The company was founded by Duncan Henry Davidson in 1972 and is headquartered in Fulford, the United Kingdom.
DJ | Persimmon 2022 Pretax Profit Set to Rise, But Outlook Remains Uncertain -- Earnings Preview
Feb 28, 202311:12
By Joe Hoppe
Persimmon PLC is scheduled to report results for 2022 on Wednesday. Here's what you need to know:
REVENUE: The U.K. home builder's revenue for the year is expected to rise to 3.79 billion pounds ($4.57 billion) from GBP3.61 billion a year prior, according to a consensus of 15 analysts and taken from FactSet. This reflects an increase in new home legal completion volumes and an increase in average selling prices, as disclosed in the January update.
PRETAX PROFIT: Pretax profit is expected to rise to GBP983.6 million from GBP974.1 million, according to a consensus of 15 analysts taken from FactSet.
WHAT TO WATCH:
--FORWARD SALES POSITION: Analysts will be watching for guidance on 2023 completions, especially as the company already noted that falling reservations in the second half, with the forward order book down to GBP770 million, AJ Bell analysts said in a research note. January's trading update was relatively reassuring about the numbers for 2022, but the outlook for the year ahead seemed pretty murky, the brokerage added.
DIVIDEND: A total dividend for the year of 161.99 pence is expected, down from 235.0 pence a share in 2021, according to 15 analysts and taken from FactSet, as house builders tighten their belts ahead of an unclear year.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
February 28, 2023 06:12 ET (11:12 GMT)
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