Persimmon steps up digital investment after profit slides

By Dominic Ellis
Digital will be increasingly key to Persimmon's inspection processes, improving communication with customers and enhancing training...

Persimmon recorded a pre-tax profit of £783.8 million in 2020, down £257 million year-on-year.

Group Chief Executive Dean Finch said it delivered a "robust performance" despite the challenges presented by the pandemic, with revenues totalling £3.33 billion and liquidity of £1.2 billion held at the year end.

Digital will be an increasingly key focus, supporting its 21 key stage inspection processes, improving communication with customers and enhancing training. The provision of full fibre to the home through FibreNest is aligned with the UK Government’s digital strategy.

The homebuilder has around 10 sites under construction awaiting their first sales release and it plans to open another 50 or so new sites in the first half of 2021.

Persimmon Homes and Taylor Wimpey - whose profits have similarly fallen (click here) - recently exchanged contracts with Morrisons, for a circa three acres site within the Town Centre at Newcastle Great Park, and a planning application will be submitted this month.

Work has begun on the next phase of a major housing development near Wakefield, which aims to bring more than 600 new homes over the coming years. 

Rob Murphy, Managing Director at Edison Group, said: "Despite current uncertainties, the longer-term fundamentals of the UK housing market remain resilient, and we expect Persimmon to continue its robust performance."

Share

Featured Articles

Dubai Extends Metro as Millions Switch to Public Transport

Dubai to spend US$4.9 billion on extension to successful Metro system to connect more residential communities to growing public transport system

New construction contracts released for HS2 UK rail project

Great Britain’s high speed railway construction project is set to bring another £1bn of benefits to British businesses

How to lead a successful EDI migration process

Software developer Comarch, which has over 20 years of experience in data management, shares tips on the potentially challenging EDI migration process

Changing EDI provider & how to find the right one

Technology & AI

Tinamu drone automation revolutionises inventory management

Digital Construction

COBOD's BOD2 3D printer used to build a school in Ukraine

Construction Projects