Persimmon PLC on Tuesday said is was well-positioned to deliver high-quality affordable homes this year, as completions increased in the year just gone.

The York, England-based housebuilder said completions in 2024 increased 7.5% on-year to 10,664, from 9,922 in 2023, and its forward sales position increased 8.5% to £1.15 billion from £1.06 billion.

Chief Executive Officer Dean Finch said: ‘Persimmon has worked hard and is well positioned for the future, supported by the land and planning investment we have made in recent years, our vertical integration capabilities and our excellent teams. This investment, coupled with the government’s ambitious planning reforms which demand more of the high-quality, affordable homes which are Persimmon’s core strength, supports our growth ambitions in the medium-term.’

The company added that it expects underlying pretax profit ‘to be around the upper end of market expectations’, which range from £349 million to £390 million. This compares to an underlying pretax profit of £359.4 million Persimmon had reported for 2023, albeit this was a dive of 65% from £1.01 billion in 2022.

The underlying operating profit margin in 2024 was in line with that in 2023, when it was 14.0%, down from 27.2% in 2022.

Persimmon said: ‘We are pleased with the progress we have made in developing our capabilities and we entered 2025 with an improved forward order book and strong land bank. Our Boxing Day campaign has started well driving strong levels of enquiries and visitors to our website. However, we are mindful of evolving macroeconomic and geopolitical uncertainties, including the timing of future interest rate changes, and the effect that they may have on our market and consumer confidence in the short-term.’

Persimmon will release 2024 results on March 11.

Persimmon shares rose 5.9% to 1,118.68 pence each on Tuesday morning in London.

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