HOW DOES PERSIMMON’S NEWS AFFECT YOUR VIEW OF THE PROPERTY SECTOR?
IMRAN AKRAM COLLINS STEWART
“This is a very upbeat trading statement. House prices continue to weaken, however the rate of decline is getting smaller and, crucially, the group expects to make no further land writedowns at this point. The news is positive for the whole sector, providing further confirmation of a level of stability in the underlying market.”
TOM GIDLEY-KITCHIN CHARLES STANLEY
“Persimmon probably has the best offering in the sector, in the sense that it has minimal exposure to flats, national coverage, a good exposure to social housing and good relationships with housing associations. We expect the company will be among the leaders in working its way through the recession.”
NEIL SHAH EDISON INVESTMENT RESEARCH
“This is certainly positive for the sector, though there will always be a degree of caution about a potential recovery. But Persimmon is doing all the right things to position itself for the rebound, and the housing market is finally showing signs of stabilising. These are the first encouraging signs of the potential for a turnaround.”
ED WOOLFITT GALVAN RESEARCH AND TRADING
“This is good news all round. Like other housebuilders, Persimmon shares benefited from the spring rally. But while the construction and housing industries are experiencing mixed fortunes going forward, some are doing better than others, and on the evidence of this statement, Persimmon is all but leading the way.”