(Alliance News) - Persimmon PLC on Thursday said it was on track to hit its completions target in 2025 after a strong first quarter.

Chief Executive Dean Finch said: "Persimmon has started the year well, building on our strong performance in 2024 with an improved private sales rate, an increase in average selling prices and further growth in our network of outlets."

The CEO of the York, England-based housebuilder added that Persimmon has seen "no immediate impact on the business or on customer confidence from the recent geopolitical uncertainty."

He said the company remains on track to deliver further growth in completions to between 11,000 and 11,500 for the full year, providing the UK housing market "remains stable".

At the top-end of the range, this would represent growth of 7.8% from 10,664 reported in 2024.

Persimmon said net private sales rate per outlet per week rose to 0.75 in the first quarter from 0.74 a year ago. Excluding bulk sales, the rate improved to 0.65 from 0.63.

Current forward sales are up 12% to GBP2.34 billion from GBP2.09 billion of which private forward sales are 17% higher at GBP1.68 billion compared to GBP1.43 billion a year ago, the firm said.

"Customer interest remains strong across the country," Persimmon said.

It also noted "healthy" traffic to sites and online.

"Our market fundamentals remain strong and we are confident the business will increase margins, returns and shareholder value over the medium term," the firm added.

Shares in Persimmon were flat at 1,295.00 pence each in London on Thursday.

By Jeremy Cutler, Alliance News reporter

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