Dow Jones Newswires: Persimmon expects in-line pretax profit

Persimmon PLC said Wednesday that revenue fell 2.4% in 2019, but it expects pretax profit to be in line with market consensus. Read More...

Persimmon PLC (PSN.LN) said Wednesday that revenue fell 2.4% in 2019, but it expects pretax profit to be in line with market consensus.

For the year ended Dec. 31, the U.K. house-builder PSN, +0.72% said that revenue was 3.65 billion pounds ($4.74 billion), compared with GBP3.74 billion the prior year.

The company didn’t provide any figures for pretax profit, but according to four analyst estimates taken from FactSet, it is expected to be GBP1.04 billion, down from 1.09 billion in 2018.

The company said new home legal completion volumes were down 3.4% to 15,885 in the year, with an flat average selling price of around GBP215,700.

Total forward sales value was GBP1.36 billion as at Dec. 31, compared with GBP1.4 billion at that date in 2018.