Investing.com -- Persimmon (LON:PSN) said it remains on track to meet its full-year target of 11,000 to 11,500 home completions, noting no material impact so far from geopolitical or macroeconomic uncertainty on consumer sentiment, sales activity, or its supply chain.
The U.K. homebuilder reported a 3% increase in its sales rate excluding bulk transactions for the first four months of 2025, reaching 0.65, while the rate including bulk sales rose 1% to 0.74. Positive momentum seen early in the year has continued, the company said.
Forward sales strengthened, with private sales up 17% in value and 12% in volume year-over-year to £1.68 billion and 5,714 units, respectively.
Pricing also remains firm, with incentive levels averaging 4%. Persimmon said this was a blended increase in pricing, which Morgan Stanley analysts think "implies a more robust increase in private homes."
The group opened 27 new outlets year-to-date, bringing its current total to 275, up 5% from last year. It expects to reach at least 300 outlets in the medium term.
Persimmon said it is pleased with performance so far in 2025 and anticipates a similar first-half/second-half completions split as last year, while remaining cautious amid a still-uncertain external environment.
"Persimmon’s presence with first-time buyers is one of the highest among U.K. peers, plus the most affordable products, which should benefit from improved affordability over the midterm," said Bank of America analysts in a note. "However, we still see some uncertainties about the pace of near-term margin expansion given overall cost inflation."