Persimmon PLC
20 April 2006
20th April 2006
AGM STATEMENT
Since we reported the Group's results for the year ended 31st December 2005 on
27th February 2006, we have made further significant progress with the
integration of the Westbury business, as well as achieving very satisfactory
levels of new sales.
Over the past seven weeks we have been completely focused on managing the
enlarged Group with the new structure in place, which is operating very well.
Weekly sales rates have been very good, and to date we have sold circa 9,900
homes with a total sales value of over £1.8 billion for 2006.
The number of visitors to our circa 450 developments remain high with
cancellation rates returning to historically low levels. Prices continue to hold
firm and our expectation for the year of a circa 3-4% increase in selling prices
remains unchanged.
We are therefore confident of achieving results for 2006 in line with our
expectations.
As previously announced, today's AGM marks the retirement from the Board of
Chips Keswick, John Millar and myself. John White takes over from me as
Chairman, and Mike Farley becomes Group Chief Executive.
I have total confidence that the Persimmon team will continue to achieve further
profitable growth in our business.
Finally I wish to thank everyone on the Persimmon team for all the tremendous
help and support that they have given me over so many years.
For further information please contact:
Duncan Davidson, Group Chairman
John White, Group Chief Executive
Tel: +44 (0)1904 642199
Ed Orlebar / Faeth Birch / Kirsty Flockhart, Finsbury
Tel: +44 (0)20 7251 3801
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