Persimmon has just revealed they’ve spent a whopping £60m on building safety remediation last year alone. This brings their total spend on safety works to £120m, but with 30% of remediation jobs still to start, there’s a lot more work on the horizon.
Despite this significant investment, Persimmon has showcased resilience by improving their completion rates, with a 7% increase in homes completed compared to 2023. They’ve managed to adjust with the market conditions, pushing their average selling price up by 5%.
However, it’s not all smooth sailing. Their net cash has taken a hit, falling 38% to £260m, attributed partly to the intense focus on safety.
What’s notable here is the commitment to safety and quality. With the government demanding more high-quality, affordable homes, firms like Persimmon leading the way in safety standards is a strong indicator of where the industry is headed.
This kind of dedication to building safety is essential, and as recruiters in the residential construction sector, we see firsthand how crucial it is for companies to invest in the safety and quality of their builds. Persimmon’s approach underscores the importance of hiring the right talent to manage such extensive remediation work.
Article from Construction News