North East housebuilder Persimmon has unveiled a strong trading update ahead of announcing its full year results.
The group delivered a strong performance in 2014 with an increase of 17% in legal completions to 13,509 new homes, up from 11,528.
The firm said the 36% increase in the number of new homes delivered to the market over the last two years reflects the growth of the business in line with the objectives of the group’s long term strategic plan.
The average selling price in 2014 was around £190,500, an increase of 5% over 2013’s £180,941. Full year revenues increased 23% over the prior year to £2.6bn.
At the end of the group’s financial year on December 31 2014, it held cash balances of around £378m.
The York-headquartered group also experienced good levels of demand across the UK throughout 2014, with a return to a more traditional seasonal pattern to customer activity, selling right through to the end of the autumn season.
The deputy managing director for Persimmon North East said he is delighted with the company’s most recent results.
John Eynon, said the strong performance in 2014 was a real team effort.
He said: “Our focus is now on continuing to deliver new homes into the communities where they are most needed. 2014 was extremely busy for us, with our teams selling right up to the end of the year.
“We’re expecting another strong start to 2015 with many properties already reserved and forward sold. We have new developments launching throughout 2015 and will be working closely with local authorities to ensure planning issues don’t slow the pathway to delivering new communities.”
Persimmon will open a number of sites throughout 2015 in Wallsend, Bedlington, Cramlington and Amble. Further phases of new housing will also be built at Newcastle Great Park and at Westerhope.
My Eynon added: “2015 looks set to be another busy year for our team and our focus will be on delivering homes into the communities that desperately need them.”
Full year results will be announced in February.