Persimmon FY15 Profit Climbs; Lifts Capital Return Plan - Quick Facts

(RTTNews) - UK-based home builder Persimmon Plc. (PSN.L) reported Tuesday that its fiscal 2015 profit before tax increased to 629.5 million pounds from 467 million pounds last year. Earnings per share were 166.4 pence, higher than 121.7 pence last year.

Underlying profit before tax was 637.8 million pounds, compared to 475 million pounds a year ago. Underlying earnings per share were 169.1 pence, compared to 124.3 pence.

Revenues increased 13% to 2.901.7 billion pounds from 2.574 billion pounds last year. The Group's average selling price of 199,127 pounds grew 4.5% and new home legal completion volumes increased 8% to 14,572 units.

Further, the company said it will make a cash return of 110 pence per share as an interim dividend payment for 2015. This is an increase of 100 pence per share on the provisional 10 pence per share payment proposed under the current Plan schedule, and an increase of 16%, on the 95 pence per share paid in 2015. Following this payment, the Company will have £2.70 per share, or 44%, of the original £6.20 per share left to pay.

The Board is increasing the original Capital Return Plan by about 860 million pounds or 2.80 pounds per share, over the plan period to 2021. The total value of the Capital Return Plan will therefore rise to 2.76 billion pounds, or 9.00 pounds per share, an increase of 45% over the original Plan.

Looking ahead, the company said its customer activity in the first seven weeks of the 2016 spring season has been encouraging. Visitors to sites are 12% ahead year on year, cancellations remain low and weekly private sales rate is 13% ahead of the prior year. Current total forward sales, including legal completions taken so far in 2016, are 1.676 billion pounds, 12% ahead of the previous year.