Last checked at 9 Apr 2018 09:49
TUESDAY 3 APRIL 2018
PERSIMMON PLC
Extension of Bank Facilities
The Directors of Persimmon plc are pleased to announce that the Company has recently concluded a one year extension of the maturity of its £300m Revolving Credit Facility ("RCF"), out to 31 March 2023, with strong support from the Company's five relationship banks.
The Directors regard the RCF as an important element in providing support to the Group's working capital flexibility as Persimmon targets further disciplined growth in volume in line with its long-term strategy of meeting market demand across the UK. This growth will require continued substantial investment in new land, necessary community infrastructure and site development work in progress, and in the Group's training programmes for trade skills and management capabilities. The Group now has 30 house building businesses across the UK having opened six new businesses over the last three years to support the Group's delivery of further increases in new home construction.
Since 2012, when the Group launched its new strategy, to the end of 2017, the Group has increased its annual construction of new homes by over 70%, opened 1,189 new outlets, invested c. £3.2bn in land and delivered c.470% total returns to shareholders, placing it third in the FTSE 100 index over the period.
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Citigate Dewe Rogerson | Tel: +44 (0) 20 7638 9571 |
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