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Welsh housebuilder congratulates team on business success

The Welsh Chairman for the UK’s leading housebuilder has congratulated his team on the delivery of an outstanding business performance.

Chairman of Persimmon Wales, Glyn Mabey says that the hard work of his team has helped the business deliver growth and has accelerated returns to shareholders.

Speaking on the day that Persimmon posted its results for the year ended 31 December 2013, Glyn said: “I’m extremely proud of the team for rising to the challenge and helping to deliver today’s excellent results.”

Persimmon legally completed 11,528 sales in 2013, an increase of 16% over the previous year. Full year revenues increased by 21% over last year to reach £2.1bn. The increase in revenues coupled with the improvement in margins resulted in underlying operating profits increasing by 50% to £333m (2012: £223m as restated), and underlying profit before tax of £330m was 49% stronger than last year (2012: £222m as restated).

In Wales, the business increased its build rate, facilitated by bold action in 2013 when they contracted on new land, along the M4 corridor, and in West Wales.

The business has revealed new developments which will open in 2014 include Hawthorn in Pontypridd, Chepstow in Monmouthshire, Newport Gwent, Church Village, Birchgrove in Swansea, and sites in Bridgend and Llanelli. The plans also include 450 new homes in Pembrokeshire where there is a considerable housing shortage – new developments will include Bush Hill near Pembroke, Lamphey and Haverfordwest.

“We have built our success on responding to local demand and delivering the types of houses needed to meet the requirements of local people,” said Glyn.

“The purchase of land is key to our future success and as a business we acquired 17,735 plots of new land across 130 high quality locations during 2013.

“The launch of Help to Buy Wales, the Government’s equity loan scheme, will undoubtedly help people get onto the property ladder or simply move up quicker than they anticipated and it’s our job to deliver houses to anyone who is looking for a brand new home.”

Glyn continues: “Unfortunately we continue to see additional burdens on the industry in Wales through higher building regulation requirements and also an extremely painful and slow planning system.

“We are in dialogue with the new Housing Minister and are now seeing a more supportive reaction to the needs of the industry which recognises the significant contribution we bring to economic activity in the region. Hopefully that dialogue will translate into some specific and positive actions by the Wales Assembly.”

Persimmon has been trading since 1972, with the business operating under three main brands, Persimmon Homes, Charles Church and Westbury Partnerships.

This was posted in Bdaily's Members' News section by Connect PR .