THE company building two of Plymouth’s key housing developments is to review every plot in the city after seeing profits fall by 65%.
Construction firm Persimmon will review its developments at Palmerston Heights, in Derriford, and Saltram Meadow, in Plymstock, after seeing its underlying operating profit slump to £152.2m from 2022’s £440.7m in the first half of 2023.
Persimmon says it will now slow down the rate at which it builds houses and implement a cost-cutting strategy after being hit with “significant market challenges and volatility”, including mortgage rate increases and build cost inflation of about 5%.
However, the company says its Plymouth plans remain unaffected, including jobs, planning applications and housebuilding schemes.
Bu hikaye The Herald dergisinin August 11, 2023 sayısından alınmıştır.
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Bu hikaye The Herald dergisinin August 11, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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