Persimmon PLC
22 April 2004
22 April 2004
AGM STATEMENT
Duncan Davidson, Chairman of Persimmon, will make the following comments at
today's AGM to be held at the St David's Hotel in Cardiff:
'At the time of the announcement of our record 2003 results on 1st March 2004,
we commented on the very strong platform we have created for further growth in
the Persimmon Group.
Since then visitor levels each week, including the most recent weekend, have
been at high levels in all parts of the U.K. and sales volumes and margins
continue to be very good. The demand for homes across the whole range of price
bands both in our core business and at Charles Church has been very encouraging.
Currently our total sales for 2004 are ahead of 2003 by over 20% in volume and
by over 35% in total revenue at circa £1.4 billion. The strength of our order
book gives us every confidence for not only the first half performance, but also
the full year results.
We continue to focus on margin improvement and the creation of increased
shareholder value.
Whilst the land market remains competitive, our benefits of scale as one of the
U.K.'s leading homebuilders give us the ability to undertake larger more complex
schemes and continue to provide many exciting opportunities.
This week here in Wales, for example, we have concluded negotiations on two
large regeneration brownfield developments for over 1,000 homes in Swansea
Marina and on the former Bryn Gwyn steelworks site where we will be providing a
variety of new homes for which there is high demand.
Developments such as these, which we are undertaking in many parts of the U.K.,
will ensure that our business continues to move forward.'
Persimmon is holding a visit to its operations in the North-East of England on
19th May 2004 and a brief statement to the Stock Exchange will be made to
coincide with this visit. The Company will also issue a first half trading
update on Tuesday 29th June 2004.
For further information, please contact:
John White, Group Chief Executive
Persimmon plc Tel: +44 (0)1904 642199
Ed Orlebar / Faeth Birch
Finsbury 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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