Housebuilding giant Persimmon has revealed that annual profits have more than halved, and warned 2024 will be another difficult year. The Charles Church builder posted pre-tax profits slumping to £351.8 million in 2023 from £730.7 million the previous year. The group said the housing market is set to “remain subdued” and “challenging” in 2024.
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00:00 Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
00:08 Here are your business headlines this morning.
00:10 The house builder Persimmon has revealed that annual profits are more than hard and has
00:15 said that 2024 will be another difficult year.
00:19 The builder posted pre-tax profits slumping to £351.8 million in 2023 from £730.7 million
00:28 the previous year.
00:30 New home completion slowed markedly to 9,922 from 14,868 in 2022.
00:40 The group said the housing market is set to remain subdued and challenging in 2024, with
00:45 little sign of a pick-up ahead of a general election, and with interest rates still at
00:49 the highest since the 2008 financial crisis.
00:54 So an update there from Persimmon this morning, revealing that annual profits have more than
00:59 halved.
01:00 My name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
01:04 [BLANK_AUDIO]