Business

Britain’s Persimmon taps Dave Jenkinson as permanent boss

Houesbuilder reported 13% rise in pre tax profit to €1.26 bn

Photograph: Mike Egerton/PA Wire

Tue Feb 26 2019 - 08:29

Britain's second biggest housebuilder Persimmon, which is under scrutiny from the government for its practices under the "Help to Buy" scheme, on Tuesday named interim chief executive Dave Jenkinson to the role permanently.

Former top boss Jeff Fairburn stepped down last year after the company said criticism of his $100 million (€88 million) bonus package was a distraction that had hurt its reputation.

The company, which has focused on building cheaper family houses that are less prone to tightening at the top of the UK housing market, reported a 13 per cent rise in full-year pre tax profit to £1.09 billion (€1.26 billion), boosted by higher home sales.

“Whilst sales expectations remain subject to a degree of uncertainty at the start of any financial year, the lack of clarity with respect to the UK’s exit from the EU is currently creating additional unpredictability,” the company said in a statement.

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The company said it was working with its suppliers to identify any material supplies which may be exposed to some disruption to availability as a result of Brexit, and along with adopting appropriate mitigating measures.

Reuters on Saturday reported that Britain's housing minister, James Brokenshire, has been pressing the builder on how it operates within a public funding scheme for new house buyers. – Reuters

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