Housebuilder says seasonal uplift in reservations has failed to materialise
Persimmon has forecast a 10% rise in turnover for 2010 despite a subdued Autumn selling season.
The housebuilder said that despite a gradual rise in weekly sales in September the normal increase in visitor numbers and reservations in Autumn had not occurred.
Persimmon said lack of mortgage availability was still hampering buyers鈥� ability to raise deposits for new homes.
In an interim statement Persimmon said it expected completions to rise 5% to 9,400 for the year ended 31 December 2010.
The group said it had increased margins from 4% to 8% in 2010 and said borrowing would fall to 拢80m at the end of the year, a greater rate than previously forecast.
The housebuilder said it was aquiring land at a good margin. It forecast that the acquisition of 4,000 plots on 41 sites since June 30 would result in 鈥渆xcellent medium-term returns鈥�.
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