The firm said it was successfully deflecting the worse impacts of the materials supply squeeze from a timely investment in its own brick and tile factory.
Persimmon group chief executive Dean Finch predicted margins would remain resilient, despite forecast cost inflation of 5% this year.
He said that alongside price increases on home sales secured, vertical integration and strong cost management had helped maintain its industry-leading margin.
“We have invested in expanding our off-site manufacturing hub at Harworth, near Doncaster, to strengthen security of supply.
“Our brick plant and roof tile manufacturing facility provide a significant proportion of these materials to our sites.
“This complements our existing off-site manufacturing capability at Space4, which produces timber frames, highly insulated wall panels and roof cassettes as a modern method of constructing new homes.”
Finch said that with the security of availability of its in-house manufactured build components, Persimmon remained in a strong position to support its build programmes to deliver targeted growth in output while also achieving a resilient closing stock position at the end of 2021.
In the first half of the year, pre-tax profits rebounded to £480m, as sales rates rose 20% against the pre-pandemic 2019 first half.
The house builder reported good forward sales of £2.23bn, including legal completions in the second half so far, up 9% on the more normal trading year of 2019.
This would keep it on track to deliver 10% growth in sales completions this year.
Persimmon ended the first half with a strong cash balance of £1.32bn.
https://news.google.com/__i/rss/rd/articles/CBMibWh0dHBzOi8vd3d3LmNvbnN0cnVjdGlvbmVucXVpcmVyLmNvbS8yMDIxLzA4LzE4L3BlcnNpbW1vbi1pbi1ob3VzZS1mYWN0b3J5LWhlbHBzLXJpZGUtb3V0LW1hdGVyaWFsLXNob3J0YWdlcy_SAQA?oc=5
2021-08-18 06:45:45Z
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