Help me - I bought these a month ago - when they were being tipped all over the place. Since then the sector has gone down the swannie - should cut my losses (13%) or hold on for the long haul?

Persimmon PLC (PSN:LSE) set a new 52-week high during today's trading session when it reached 1,053.84. Over this period, the share price is up 49.52%.


As of Mar 19, 2013, the consensus forecast amongst 15 polled investment analysts covering Persimmon plc advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts improved on Jun 29, 2012. The previous consensus forecast advised investors to hold their position in Persimmon plc.

What's the best option regarding the return of cash to shareholders: dividend or shares? What are the tax implications for holdings in a SIPP or ISA?

Persimmon proposes return of cash to shareholders
Mon 18 Mar 2013

PSN - Persimmon


LONDON (SHARECAST) - FTSE 250-listed house building company Persimmon has issued a circular containing details of a proposed 75p per share return of cash to shareholders worth approximately 227m pounds altogether.

The proposed 75p per share cash return is the first payment under the group’s capital return plan and the circular includes a notice convening a general meeting of the company to be held on the same day as the annual general meeting, on April 18th, to approve the return of cash.

The group said that it would propose to effect the return of cash through a bonus issue of B Shares and/or C Shares which were intended to enable shareholders to elect to receive their return of cash proceeds as either a return of capital or as dividend income or any combination of the two, subject to applicable overseas restrictions.

Under this proposed return of cash, and subject to shareholder approval being obtained, Persimmon said that for every one existing ordinary share held at 6.00 pm on April 19th 2013, 75p is to be returned to shareholders through the issue to them of either one B Share - which will be redeemed by the company for 75p - or one C Share - on which a dividend of 75p will be paid - after which the C Share will be automatically reclassified as a deferred share and subsequently repurchased by the company for an aggregate consideration of one penny and then cancelled.

The announcement follows an update issued by the company in February 2012 when the company announced a strategy that aimed to return £1.9bn - or £6.20 per share - of surplus capital to shareholders over nine and a half years ending in 2021.

Persimmon’s shares were up 1.0% to 962.50p at 13:16 on Monday

Sold my holding - 1000 shares been in since 1st July 2012 @ 638p :-))

Interim Management Statement

Trading Statement

"The Group legally completed 5,022 new homes (2012: 4,712)".. I wonder how many illegal's were started though?

Ed: Looks like the good news is already in the price.. but.

Half Yearly Report

Highlights

· Legal completions up 7% to 5,022 (2012: 4,712)
· Underlying pre-tax profits* increased 40% to £135.3m (2012: £96.9m†)
· Revenue 12% ahead at £899.9m (2012: £806.7m)
· Strong improvement in operating margin* increasing 300bps to 15.1% (2012: 12.1%†) achieving targeted operating margin range eighteen months ahead of plan
· Underlying basic earnings per share* increased 35% to 34.1p (2012: 25.2p†)
· Net cash inflow from operating activities increased 38% to £143.0 million (2012: £104.0 million); net cash of £48.1m as at 30 June 2013 (2012: £135.2m)
· Strong investment in new land of £236 million (2012: £142 million); 7,538 new plots acquired bringing the total of owned and controlled plots to 70,716 (2012: 63,786)
· Underlying return on average capital employed** up 40% at 14.1% (2012: 10.1%)
· Forward sales up 21% at £1,257m (2012: £1,041m)
· Achieved over 1,700 reservations under Help to Buy since the scheme launched

Interim Management Statement

Trading update Wednesday 8th January 2014, should give a read across to other house builders like Taylor Wimpey etc.

Trading Statement

he Group has had a strong finish to the year. As indicated in our Interim Management Statement on 6 November 2013 we responded swiftly to the significant increase in weekly sales rates by substantially increasing our construction activity across the country. We are pleased to report that the Group has increased the volume of new house sales delivered to 11,528 for the year, 16% ahead of the previous year. Our robust build disciplines enabled the Group to legally complete 6,506 new homes in the second half of the year which is an increase of 30% over the first half of 2013. Second half sales volumes are 25% ahead of the prior year (2012 : 5,191).

The average selling price for our 2013 legal completions was c.£180,900, an increase of 4% over 2012 (£173,823). This increase is due to the change in mix of sales of our traditional family housing across the UK year on year. Full year revenues of £2.1bn represents an increase of 21% over the prior year.

This growth in revenues and the anticipated further improvement in operating margins will enable us to deliver strong underlying pre tax profit growth for the year ended 31 December 2013 demonstrating further progress with the delivery of the long term strategic plan announced in February 2012.

We acquired c.17,600 plots of new land during 2013, representing a replacement rate of 153% of current consumption, and once again demonstrating our appetite to invest in further growth. The land market in our regional operating areas continues to offer attractive investment opportunities with c.10,100 plots acquired in the second half of 2013.

Of the c.17,600 plots acquired in 2013, over 5,500 plots were converted from our strategic land bank. The superior returns from these strategic land parcels will support Group profitability and cashflows as they are developed over future years.

In line with expectations, we successfully opened the 85 sites identified for the second six months of 2013 and enter the new year with 390 active sites across the UK. We anticipate opening a further 90 new sites in the first half of 2014 and expect to see stable total active site numbers through the first half of 2014.

We continued to experience robust private sales rates through to the year end and despite the substantial increase in legal completions achieved in the second half of 2013, the value of our total forward sales at 31 December 2013 was 41% ahead of the prior year at c.£908m (2012 : £645m). The number of reserved and exchanged private sales carried forward into 2014, at over 3,000 new homes, is c.55% stronger than at the same time last year. A similar number of affordable homes have been pre-sold reflecting a c.9% increase on the prior year. This strong forward sales position provides a solid platform for further sales growth in 2014.

Our cash holdings have continued to strengthen despite our strong investment in land and work in progress through the second half of the year. We held cash balances of c.£204m at 31 December 2013 (2012 : £201m).

We will give a further update on our assessment of the housing market over the early weeks of 2014 when we announce our results for the year ended 31 December 2013 on Tuesday 25 February 2014.

Final Results

Highlights

· Underlying profit before tax* increased by 49% to £330m (2012: £222m**)
· Full year revenue up 21% to £2.1bn (2012: £1.7bn)
· Legal completions increased by 16% to 11,528 (2012: 9,903) and average selling price*** increased 4% to £181,861 (2012: £175,640)
· Operating margin* increased to 16.0% (2012: 12.9%**); with second half improvement to 16.6%
· Return on average capital employed* increased by 44% to 17.6% (2012: 12.2%)
· A further 17,735 plots of land acquired in the year bringing consented landbank to 74,407 representing 6.5 years supply
· Continued focus on the development of strategic land with 33% of replacement land successfully converted from the Group's strategic land portfolio
· Underlying basic earnings per share* increased by 47% to 83.3p (2012: 56.7p**)
· Net cash of £204m at 31 December 2013 (2012: £201m cash)
· Forward sales^ strongly ahead at over £1.4bn (2013: £1.0bn), an increase of 41%

Capital Return Plan
· First instalment of £228m (75p per share) under the Capital Return Plan paid 28 June 2013
· Success in meeting increased demand and growing the business has generated £231m of free cash before capital return payment and enabled an acceleration of the Capital Return Plan
‐ 70p per share to be paid on 4 July 2014, being a part acceleration of the final planned payment of 115p per share in 2021
‐ Planned 95p per share payment for 2015 reinstated in full
‐ Payments of at least 10p per share to be made in both 2016 and 2018, part accelerated from the final planned payment for 2021.

*stated before exceptional items and goodwill impairment
**restated for amendment to IAS 19 : Employee Benefits
*** stated before fair value charge on shared equity sales
^ as at 24 February 2014

Ex-divi 5th JUN 2014 (70p)

March 12: Goldman Sachs: Buy - TP down from 1892p to 1840p. DownGrade

Interim Management Statement

Persimmon plc ("the Company") will hold its Annual General Meeting ("AGM") at 12.00 noon today at York Racecourse when the Chairman will make the following statement regarding current trading, financial performance and the outlook for the current financial year. This statement covers the period from 1 January 2014 to date and supplements the update given with the 2013 Final Results on 25 February 2014.

The new financial year has started well with visitor levels to our sites up 10% over the prior year during the initial fifteen weeks of trading. Cancellation rates over this period of 14% continue to run at historically low levels (2013: 15%).

Our weekly private sales rate per site for the first fifteen weeks of 2014 was 25% ahead of the prior year. Together with the strong sales position brought forward into the new year, this improved rate of sale results in current total forward sales of £1.87 billion for 2014, which includes legal completions taken so far this year. Total forward sales revenue is 35% higher than in 2013 (£1.38 billion). We have c.7,200 new homes sold forward into the private sale market for 2014 which is 38% ahead of the same point last year, with an average selling price of c.£200,400 which is c.3% higher.

We currently have c.395 active sites across the UK and have successfully opened 75 of the 90 new outlets targeted for the first half of 2014 to refresh this network. Our build activity continues to support the improved rates of sale and we remain confident of delivering further growth in the number of new homes legally completed for 2014.

The Government sponsored Help to Buy shared equity scheme in England reached its first anniversary on 1 April 2014 and we have now sold c.5,000 new homes to customers using mortgages associated with this scheme, of which 2,203 legally completed in 2013. In addition, we have sold a further c.600 new homes in Scotland and Wales to customers using similar mortgage products in these regional markets.

The recently announced extension of Help to Buy from March 2016 to March 2020 provides welcome support to potential new home purchasers for this additional four year period. As a consequence, and with the support of the mortgage lending industry, housebuilders have the opportunity to continue to increase the industry's development commitments in support of increasing the number of new homes delivered to the market over the medium term.

Our strategy remains focussed on exercising capital discipline through the cycle whilst growing the business as market conditions allow. Our commitment to return c.£1.9 billion of surplus capital to shareholders over the period to 2021 is a key feature of this capital discipline. In the Final Results statement on 25 February 2014 the Directors announced a further acceleration of this programme of capital return. Subject to shareholder approval at the AGM, the second payment of the Capital Return Plan of c.£213 million, or 70p per share, will be paid to shareholders on 4 July 2014. This 70p per share payment is a part acceleration of the 115p final payment originally planned for 2021. The record date is 6.00 p.m. on 4 June 2014 and the shares trade ex-entitlement from 8.00 a.m. on 5 June 2014.

In line with the approach adopted with the first payment under the Capital Return Plan in 2013, the Directors will offer shareholders the opportunity, where possible, to choose to receive the cash either as a return of capital or as dividend income by way of a B / C share scheme. Full details of the B / C share proposal have been sent to shareholders with the notice of the Company's AGM. The closing date for elections to be made by shareholders is 11.00 a.m. on 20 June 2014.

The Directors are pleased to announce that the Company has recently concluded an amendment of its £300 million Revolving Credit Facility with the Company's five relationship banks. The new facility has been extended to a maturity date of 31 March 2019.

We will provide a further report on progress in our Trading Update on Wednesday 2 July 2014.

I wonder if this might be worth a dabble before the 70p ex-divi date (5th Jun). Looks to be a little upside in the sp with the divi safety net if the trade goes wrong.

Interim Management Statement

TRADING UPDATE - 7 JANUARY 2015

Persimmon plc announces the following update ahead of its Final Results for the year ended 31 December 2014, which will be released on 24 February 2015.

The Group delivered a strong performance in 2014 with an increase of 17% in legal completions to 13,509 new homes (2013: 11,528). The 36% increase in the number of new homes delivered to the market by Persimmon over the last two years reflects the growth of the business in line with the objectives of the Group's long term strategic plan.

The average selling price for the Group in 2014 was c. £190,500, an increase of 5% over 2013 (£180,941). Full year revenues increased 23% over the prior year to £2.6bn (2013: £2.1bn).

The Group experienced good levels of demand across the UK throughout 2014, with a return to a more traditional seasonal pattern to customer activity and we sold well right through to the end of the autumn season. The value of our forward sales at 31 December 2014 of c. £973m (2013: £908m) was 7% ahead of the prior year and provides strong momentum for the business moving into the new year.

As indicated in our Interim Management Statement on 4 November 2014 we remain confident of a further improvement in operating margins for the second half of the year which will underpin significant growth in pre-tax profits and excellent cash generation for the year ended 31 December 2014.

In line with the Group's long term strategy, during the year we identified a number of excellent opportunities for disciplined reinvestment in new sites in good locations which will generate superior returns and cashflow over the coming years. We were successful in acquiring c. 26,800 plots of new land over 156 sites with good deferred terms. Over 8,600 plots were converted from our strategic land bank embedding further excellent value in the consented land bank. Our management teams across the country remain focussed on starting construction on all our development sites at the earliest opportunity to fulfil the demands of the market and to maximise the Group's returns.

The Group held cash balances of c. £378m at 31 December 2014 (2013: £204m).

We will give a further update on our assessment of the housing market over the early weeks of 2015 when we announce our results for the year ended 31 December 2014 on Tuesday 24 February 2015.

Ex-divi 20th Mar 2015 (95p)

Trading Update

THURSDAY 2 JULY 2015

Persimmon plc announces the following update ahead of its Half Year Results to 30 June 2015, which will be released on Tuesday 18 August 2015.

The Group has traded well through the first half of 2015. Customer sentiment remained resilient through the period running up to the General Election on 7 May and confidence has improved subsequently. New home legal completion volumes increased by 7% to 6,855 units (2014: 6,408) and total revenues increased by 12% to £1.34 bn (2014: £1.20 bn). Visitor numbers to our sites across the UK have been in line with the prior year and cancellation rates have remained at low levels.

Customer demand has been supported by an increasingly competitive mortgage market over the last six months, together with continued growth in employment and some welcome improvement in disposable incomes. The opportunity to buy a newly built home remains compelling. The average selling price for the Group increased by 4% to c. £195,000 (2014: £186,970).

For the first half of the year the Group's weekly rate of sale into the private sale market was 11% ahead of the prior year. At 30 June forward sales volumes into the private sale market were 12% ahead of last year at 4,606 new homes with an average selling price of c. £213,000, 4% ahead of last year. Total forward sales value at 30 June increased by 15% to £1.36 bn (2014: £1.18 bn).

We successfully opened 122 new sites in the first half of the year despite experiencing a slow-down in the planning application process in the period running up to the General Election. As a result our outlet network at 30 June of 395 active sites was c. 5% stronger than at the start of the year. We continue to actively develop all sites where we have an implementable detailed planning consent and plan to open a further c.125 new sites during the second half of the year.

The land market continues to provide attractive opportunities for investment to support the future growth of the business. We have acquired c. 11,500 new plots of land across the UK during the first half and our consented land bank at 30 June totalled c. 92,400 plots. We continue to take advantage of profitable opportunities to strengthen the land platform for the future development of the business.

The third payment of our Capital Return Plan of £291 million, or 95p per share, was accelerated and paid on 2 April 2015 in line with the long term strategic plan adopted by management. The Group's total free net cash inflow before capital return in the first half of the year was c. £191 million (2014: £122 million). Due to this strong liquidity cash holdings at 30 June were c. £278 million ( 30 June 2014: £326 million).

We will announce our Half Year Results on Tuesday 18 August 2015 and will provide further details at that time.