Investors show an interest in Persimmon results

In its last update, Persimmon said it completed 8,072 house sales, up 3.6 per cent on a year earlier.
In its last update, Persimmon said it completed 8,072 house sales, up 3.6 per cent on a year earlier.
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Persimmon will unveil results for the first half of the year this week, with investors keen to hear management’s view on whether increased interest rates are affecting sales.

The housebuilder will say revenue rose 5 per cent to £1.84 billion in the six months to 30 June. But City analysts believe the Bank of England’s recent decision to raise interest rates from 0.5 per cent to 0.75 per cent could start to hit the housing market.

George Salmon, equity analyst at Hargreaves Lansdown, said: “Investors will be waiting to see if the monetary policy committee’s decision to raise interest rates has impacted Persimmon’s selling power.”

In its last trading update, Persimmon said it completed 8,072 house sales, up 3.6 per cent on a year earlier.

The company continues to be dogged by controversy over excessive pay for top bosses, with chief executive Jeff Fairburn earning a salary of £47 million.