Fareham firm overjoyed as profits and sales are on the increase

ON THE UP Persimmon Homes South Coast has seen an increase in sales and profits
ON THE UP Persimmon Homes South Coast has seen an increase in sales and profits
Rae Bryden, manager at Joules in Gunwharf Quays, who was the Manager of the Year winner and was runner-up in the Fashion Store of the Year category at The News's Retail and Leisure Awards in 2016.  Picture: Sarah Standing (170883-5016)

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STAFF at a construction firm have been praised after sales grew by more than 10 per cent, year on year.

Persimmon Homes South Coast, in Wickham Road, Fareham, has announced its December 2013 figures and the company’s sales have grown by 16 per cent to 11,528 plots of land.

The revenues also increased by 21 per cent to reach £2.1bn and this, coupled with improvements in margins, resulted in underlying operating profits increasing by 50 per cent to reach £333m.

Managing director Matt Paine said that the hard work of his team has helped the business deliver growth and has accelerated returns to shareholders.

He said: ‘Customer demand has certainly increased in the region and I’m extremely proud of the team for rising to the challenge and helping to deliver today’s excellent results.’

As well as its figures on the up, Persimmon Homes also increased in build rate as it opened new developments in Four Marks, Horndean and Yapton.

It also has plans in the pipeline to open a further four sites this year including one in Portsmouth.

‘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 Mr Paine.

‘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. We continue to work closely with local authorities to gain planning within the region to ensure we continue to meet the high demand from potential buyers.

‘Help to Buy, the government’s equity loan scheme, has undoubtedly helped some people get onto the property ladder or move up quicker than they anticipated.’