PSMMF - Persimmon Plc

Other OTC - Other OTC Delayed Price. Currency in USD
23.88
0.00 (0.00%)
At close: 11:43AM EDT
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Previous Close23.88
Open23.88
Bid0.00 x 0
Ask0.00 x 0
Day's Range23.88 - 23.88
52 Week Range22.80 - 33.00
Volume27,818
Avg. Volume1,319
Market Cap7.966B
Beta (3Y Monthly)1.35
PE Ratio (TTM)7.01
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield3.02 (12.66%)
Ex-Dividend Date2019-06-13
1y Target EstN/A
Trade prices are not sourced from all markets
  • Bloomberg4 hours ago

    Home Builder Persimmon Falls After TV Program Highlights Faults

    (Bloomberg) -- Persimmon Plc shares fell after a television documentary highlighted customer complaints about the quality of the homes the company builds, fire-safety concerns and excessive executive pay.The program, which aired Monday evening on Britain’s Channel 4, contained interviews with disgruntled customers of the country’s second-largest home builder. They laid out a litany of construction faults and described high-pressure sales tactics used by the company, which has been a major beneficiary of the government’s Help to Buy low-cost loan program for new home buyers.Persimmon dropped as much as 2% in London trading on Tuesday, following a 2.9% decline on Monday before the program was broadcast. That compares with a dip of about 1% for competitor Barratt Developments Plc since Friday’s close.The Help to Buy program is set to be modified and extended from 2021 through 2023, and the U.K. government is weighing whether to ban Persimmon from selling its homes to buyers using the interest-free loans, the Times reported in February. About half the homes Persimmon builds are sold using Help to Buy.In a statement provided to the program, Persimmon said it “can and will do better” under its new leadership. “We fully accept that on too many occasions in the past we have fallen short on customer care and the speed and empathy with which we dealt with problems,” according to the statement.Housing Secretary James Brokenshire is concerned about the company’s quality of construction and handling of complaints, in addition to the practice of selling houses using leasehold structures that require buyers to pay an annual rent on the land beneath their homes, the Times said. Persimmon Chief Executive Officer Dave Jenkinson said at the time that the company hadn’t been in direct contact with the government about the issue.Help to Buy was introduced shortly after Persimmon brought in an uncapped long-term incentive plan that resulted in a 75 million pound ($93.5 million) bonus for then CEO Jeff Fairburn. He decided to leave the company after the bonus became the focus of public ire about executive pay. Former Chairman Nicholas Wrigley and Jonathan Davie, former head of the company’s remuneration committee, both resigned in 2017 as a result of a decision not to impose a cap on the plan.The Channel 4 program brought in an independent building surveyor to inspect a Persimmon home that was recently sold. He found almost 300 faults, including leaking sinks and a poorly fitted fire door. More than 70% of the issues raised fell short of building regulation standards, according to the program. Customers also complained that Persimmon had taken more than a year to make some fixes.Persimmon started an independent review to examine its quality, customer care, governance and incentives in April. The new focus on customer service has resulted in an improved build quality rating, but is impacting sales volumes and margins, the company said in an earnings statement earlier this month.To contact the reporter on this story: Jack Sidders in London at jsidders@bloomberg.netTo contact the editors responsible for this story: Shelley Robinson at ssmith118@bloomberg.net, Patrick Henry, Marion DakersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times12 days ago

    Persimmon seeks to sell the benefit of a housing market slowdown

    When a £100m bonus for Persimmon boss Jeff Fairburn was called “egregious” by MPs, the housebuilder had a problem. When 64 per cent of shareholders voted against it , that problem became serious. When ...

  • BlackRock to vote in favor of Persimmon pay report: Sky News
    Reuters2 months ago

    BlackRock to vote in favor of Persimmon pay report: Sky News

    The report said BlackRock has backed Persimmon's board ahead of an annual general meeting on Wednesday at which shareholders will vote on the remuneration report, which disclosed that new Chief Executive Dave Jenkinson was paid‎ almost 25 million pounds ($32.67 million) last year. BlackRock, which owns 5.25 percent of Persimmon shares, declined to comment, while the company did not immediately respond to a request for a comment.

  • Reuters2 months ago

    BlackRock to vote in favour of Persimmon pay report - Sky News

    The report said BlackRock has backed Persimmon's board ahead of an annual general meeting on Wednesday at which shareholders will vote on the remuneration report, which disclosed that new Chief Executive Dave Jenkinson was paid‎ almost 25 million pounds ($32.67 million) last year. BlackRock, which owns 5.25 percent of Persimmon shares, declined to comment, while the company did not immediately respond to a request for a comment.

  • Persimmon launches review to assess effectiveness of new strategies
    Reuters3 months ago

    Persimmon launches review to assess effectiveness of new strategies

    The review, to be led by Stephanie Barwise QC of Atkin Chambers, an independent chair, will look into aspects including customer care approach, systems and culture, quality assurance processes, and speed and consistency of response to issues. "Persimmon has been focused on rapid change and improvement of its customer care culture and operations, and on eliminating cases of poor workmanship," the company said in a statement.

  • Thomson Reuters StreetEvents5 months ago

    Edited Transcript of PSN.L earnings conference call or presentation 26-Feb-19 9:45am GMT

    Full Year 2018 Persimmon PLC Earnings Call

  • Reuters5 months ago

    Persimmon rides out Brexit storm with higher home sales

    Shares in Persimmon, which last year faced an investor mutiny over its former chief executive's pay, rose by 4 percent to 2,446 pence at 1221 GMT after it said pretax profit rose 13 percent in 2018 to £1.09 billion. Persimmon, which has focused on building cheaper family houses, said interim CEO Dave Jenkinson would take on the role permanently after Jeff Fairburn stepped down last year amid criticism of his $100 million (£76 million) bonus package. Jenkinson has agreed not to receive a bonus in 2019, with Persimmon and other housebuilders facing an overall sluggish housing market, with people shying away due to smaller household incomes and Brexit keeping foreign investors at bay.

  • Reuters5 months ago

    Persimmon to name Jenkinson as new chief executive - Sky News

    The company will confirm Jenkinson in his new role on Tuesday as it seeks to move on from media and shareholder criticism of the pay package of the former CEO, Sky News said. Persimmon shares fell as much as 8 percent on Monday, after reports on Saturday that Britain's housing minister, James Brokenshire, is pressing the builder on how it operates within a public funding scheme for new house buyers.

  • Reuters6 months ago

    Persimmon sees full-year pre-tax profit ahead of market consensus

    The company, which has focused on building cheaper family houses that are less prone to tightening at the top of the UK housing market, said the market has continued to benefit from robust employment levels, low interest rates and a competitive mortgage market. The FTSE company's revenue rose 4 percent to 3.74 billion pounds ($4.82 billion) for the year ended Dec. 31, with sales rising 3 percent to 16,449 units.

  • Simply Wall St.7 months ago

    Will Persimmon Plc’s (LON:PSN) Earnings Grow In The Next 12 Months?

    In June 2018, Persimmon Plc (LON:PSN) announced its earnings update. Overall, analysts seem cautiously bearish, with profits predicted to rise by 3.5% next year relative to the higher past 5-year Read More...

  • Reuters8 months ago

    PRESS DIGEST- Financial Times - Nov 8

    The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines Persimmon boss at centre of pay storm to leave company ...

  • A $99 Million Bonus Makes Parting Such Sweet Sorrow
    Bloomberg8 months ago

    A $99 Million Bonus Makes Parting Such Sweet Sorrow

    The company still insists that his performance made him worth it. Persimmon says replacing Fairburn was a decision due entirely to the “distraction” over his pay, which it says hurt both the house-builder’s reputation and the CEO’s ability to do his job. While other businesses might ditch their leader for bad performance, Persimmon stresses that theirs merely hit his bonus targets and that’s what inflated his pay.

  • Reuters8 months ago

    Backlash over $100 million bonus claims boss of UK builder Persimmon

    The boss of Britain's second-biggest housebuilder Persimmon (PSN.L) is to leave after the company said criticism of his $100 million (75.95 million pounds) bonus package was a continuing distraction that had hit its reputation. Jeff Fairburn was the highest paid FTSE-100 chief executive in the financial year ending 2017, receiving 47.1 million pounds, more than 20 times his pay in 2016, largely due to a long-term incentive plan dating back to 2012. "It is clearly now in the best interests of Persimmon that I should step down," he said.