Monday, Feb 26, 2007
Persimmon profit in line
Reuters: Country's biggest housebuilder meets market expectations and expects strong year
A secure economy and job market have helped keep demand for new housing high, with the unexpected IR hike making little dent in the strength of the property market. The company increased its dividend yield by 50%, on the back of achieving a good amount of reservations and forward sales.
Posted by jellycaster @ 10:42 AM (152 views) Add Comment
3 Comments
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1. bidin'matime said...
> demand was well underpinned by a secure job market and economy, with a surprise January interest rate hike having no impact on buyer confidence.<
Well if this is true, then the MPC have failed in their objective and we can look forward to much higher rate rises in the future.
2. denzil said...
>>Housebuilder expects strong year.
Were they expected to say anything different?
How about this one:
Housebuilder expects weak year.
Not likely is it? Except of course if they have some strange wish to rapidly devalue their share price.
3. Wilee said...
Is it a case of quantity before quality, though? A friend of mine one bought one of their new builds less than 12 months ago and has had no end of problems with the electrics, plumbing, tiling etc...etc... After-sales support has been truly awful. Don't know whether this is just one-off but HPI aside, "buyer beware".