Persimmon Set For Record Profits

[Guest wrongmove]

Persimmon set for record profits

"Britain's biggest housebuilder Persimmon expects to deliver record profits this year and predicts prices in the UK's booming market to keep rising in 2007.

The builder's sales jumped 38pc to £3.15bn this year as it sold 16,700 homes, an increase of 32pc on 2005. The order book for next year already stands at more than £700m, up from £572m last year, Persimmon said.

The acquisition of rival Westbury in January for £643m, the largest takeover in the housebuilding sector, has helped drive sales this year, especially of Persimmon's luxury Charles Church homes. Persimmon sold 3,000 Charles Church homes this year.

Persimmon has squeezed about £32m of savings from the purchase, largely due to 500 job cuts. House prices across the UK have continued to rise in the second half despite two quarter-point increases in interest rates from the Bank of England since August.

With the latest data showing no obvious weakness in the economy, financial markets expect the Bank to lift rates to 5.25pc in the new year..........."

[crashmonitor]

Persimmon set for record profits

With the latest data showing no obvious weakness in the economy, financial markets expect the Bank to lift rates to 5.25pc in the new year..........."

Yes and just to be awkward King and his cronies will hold off until February.All the data is screaming out January but Merv is not a man to be rushed ,especially by those cretins on Housepricecrash.com.

[Bearfacts]

You missed a bit .. Farley said that prices had risen by about 3% this year and expects the same next year.

So thats a fall of 1% in real terms.

Edited December 22, 2006 by Bearfacts

[Prof]

House builders, mortgage lenders, estate agents, I predict most will be making record profits. Where do these record profits come from ? Housebuyers, that`s where. So, the builders, lenders and selling agents are making stacks of cash and the treasury are taking huge amounts of stamp duty and inheritance tax. People who are buying property are supposed to making a good investment, everyone`s a winner !!!!!