Persimmon boss steps down as housebuilder reports £1bn profits
The chief executive of Persimmon has given early notice of his intention to step down as the housebuilder reported profits exceeding £1 billion for a second consecutive year.
Dave Jenkinson, who took up the post just 15 months ago, said he was “pleased with the headway we have made in 2019 and determined that we will make further progress with these initiatives in 2020”.
Persimmon has now begun searching for his successor, with Mr Jenkinson committed to staying on “for as long as the business requires”.
Overall, the housebuilder reported pre-tax profits of £1.04 billion in 2019, down marginally on £1.1 billion in 2018, with total group revenue down 2.4% to £3.65 billion.
It sold 15,855 new homes over the course of the year, 4% down from 16,449 the previous year, with an average selling price of £215,709.
Mr Jenkinson said: “Persimmon’s results for 2019 reflect our focus on offering attractively priced new homes for all, where housing need is greatest across the UK.
“I am proud of the enthusiasm and dedication with which the whole Persimmon team is making the many changes necessary to achieve higher levels of quality and service to our customers.
“We continue to invest in our teams, systems, and our off-site manufacturing capabilities to support the Group’s further sustainable development.
“I am pleased with the headway we have made in 2019 and determined that we will make further progress with these initiatives in 2020. Persimmon is in a strong position for the future supported by the Group’s talented teams, healthy forward sales, strong forward build and robust balance sheet.”