Persimmon PLC
24 April 2003
24 April 2003
AGM STATEMENT
Duncan Davidson, Chairman of Persimmon, will make the following comments at
today's AGM:
'Persimmon's continued focus on maximising margins and profit per plot stood us
in good stead again during the last financial year when we achieved record
sales, profits and earnings.
One of our key strengths is our broad geographic spread and product diversity.
Persimmon builds homes throughout the country from Aberdeen in the North to
Cornwall in the South. This coverage gives resilience to our business. As stated
at the time of the announcement of our 2002 full year result on 3rd March 2003,
whilst volumes are lower in the South, we continue to experience steady price
growth of homes sold in all regions outside of the London area. Persimmon builds
only a very small proportion of its homes within the M25. In the North, we are
seeing increased demand with further price growth.
The forward sales which we have achieved to date will ensure that our first half
expectations are met. In addition, we have £170 million of sales value already
contracted or reserved for the second half of the current year.
We continue to be encouraged by the resilient marketplace and we look forward
with confidence to another successful year in 2003.'
Persimmon will issue a first half trading update on Wednesday, 25 June 2003.
(ENDS)
For further information, please contact:
John White, Group Chief Executive Faeth Birch/ Jenna Littler
Persimmon plc Finsbury
Tel: +44 (0) 1904 642199 Tel: +44 (0)20 7251 3801
This information is provided by RNS
The company news service from the London Stock Exchange
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