Owl says; Summary – take care of your donors and they will take care of you.
“The housebuilder Persimmon has reported that its profits rose by 13% in the first half of the year, boosted by the government’s help-to-buy scheme and competitive mortgage deals.
Pretax profits jumped to £516m from £457m in the six months to 30 June, and Persimmon said it expected further growth in the second half of the year, bucking the wider trend of a slowing UK housing market.
“We have continued to experience good levels of customer interest in our housing development sites as we trade through the quieter summer season,” said the Persimmon chief executive, Jeff Fairburn.
“Customers are continuing to benefit from a competitive mortgage market and confidence remains resilient based on healthy employment trends and low interest rates.”
Britiain’s second biggest housebuilder angered shareholders earlier this year after handing Fairburn a £75m bonus. A report published last week by the High Pay Centre revealed Fairburn was the highest paid FTSE 100 boss in 2017, with a £47.1m package.
Persimmon sold 8,072 new homes in the first half of the year, up 4%. The average selling price increased by 1%, to £215,813.
The housebuilder has been one of the biggest beneficiaries of the government’s help-to-buy programme, which has lifted sales and supported house prices across the UK. …”