## Persimmon PLC Full Year Results 2025Summary
**Key Highlights**
* **Strong Performance** Persimmon delivered a robust performance in 2025, with a 12% increase in completions to 11,905 homes and a 13% rise in underlying profit before tax to £445.6 million.
* **Brand Diversification** All three brands (Persimmon, Charles Church, Westbury Partnerships) showed growth, demonstrating the success of their diversified market approach.
* **Strategic Land Bank** Persimmon strengthened its land bank, acquiring over 16,000 new plots and increasing its strategic land pipeline by 10% to over 77,000 potential plots.
* **Vertical Integration** The companys vertical integration model, including its brickworks, tileworks, and timber frame facility, contributed to cost efficiency and supply chain security.
* **Building Safety Remediation** Persimmon made significant progress in its building safety remediation program, with 90% of known developments either fully tendered, on-site, or completed.
* **Dividend and Shareholder Returns** The company maintained its dividend at 60p per share and reaffirmed its commitment to sustainable shareholder returns.
**Financial Performance**
* **Revenue** Total revenue increased by 17% to £3.75 billion, driven by higher completions and average selling prices.
* **Profitability** Underlying operating profit rose by 17% to £472.1 million, with an operating margin of 14.3%.
* **Cash Position** Cash balance decreased to £117.0 million due to increased land investment and dividend payments.
**Outlook**
* **2026 Guidance** Persimmon expects to deliver between 12,000 and 12,500 completions in 2026, with underlying operating profit towards the upper end of current consensus.
* **Market Conditions** The company acknowledges potential challenges from the Iran conflict but remains confident in its ability to navigate market uncertainties.
* **Long-Term Growth** Persimmon is well-positioned for long-term growth, supported by its strong land bank, diversified brands, and commitment to quality and customer service.
**Key Takeaways**
Persimmons 2025 results demonstrate its resilience and strategic focus in a challenging market. The companys diversified brand portfolio, strong land bank, and vertical integration provide a solid foundation for future growth. While acknowledging potential market headwinds, Persimmon remains confident in its ability to deliver sustainable performance and shareholder value.