Monday, December 20, 2010

Persimmon’s chief exec cautiously optimistic.

The UK’s largest housebuilder says the road to recovery will be long

Farley remembers exactly where he was when he realised his industry had hit its biggest slump in a generation. “It was 10am at the start of week 14 in 2008,” he says. At the time, he was sitting at his desk on Monday morning, reading the weekly sales figures as he always does. But this time it was hard to believe what he was seeing. “Sales had fallen off a cliff,” he recalls. “They were down 30 to 40 per cent. I had never seen that sort of decline before. Normally sales fluctuate a few percentage points week on week. Also, when you do see a fall, it is centred on a particular region for whatever reason. But this was right across the board. Banks had run out of cash and had simply stopped lending.”

Posted by sibley's b'stard child @ 12:24 PM (946 views)
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3 thoughts on “Persimmon’s chief exec cautiously optimistic.

  • with many a winding turn sbc?

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  • sibley's b'stard child says:

    I can’t view Youtube vids at work (which I presume it is); although i’m guessing it’s a Hollies reference?

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  • hey brother…. that’s heavy!!! 🙂

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