Persimmon (PSN)

Sector:

Household Goods

Index:

FTSE 100

1,286.00p
   
  • Change Today:
    -5.50p
  • 52 Week High: 1,485.00
  • 52 Week Low: 960.40
  • Currency: UK Pounds
  • Shares Issued: 319.69m
  • Volume: 927,586
  • Market Cap: £4,111.18m
  • RiskGrade: 168

Persimmon homes found with 'fire safety issues' - report

By Frank Prenesti

Date: Wednesday 01 May 2019

LONDON (ShareCast) - (Sharecast News) - Houses developed by Persimmon have potentially dangerous fire safety issues, according to a BBC report on Wednesday.
New-builds constructed by the firms were sold with missing or incorrectly installed fire barriers, which are designed to inhibit the spread of fire, the broadcaster's Watchdog consumer affairs programme reported, adding that in some cases, it was believed a lack of barriers contributed to the spread of fires that destroyed homes.

The programme cited Sarah Dennis, a resident at the Persimmon Homes Greenacres development in Exeter, where a fire in April 2018 started by a cigarette dropped at ground level spread up to the roof of a house and then to adjacent properties.

"Neighbours asked if we could smell smoke. Went inside to check on the kids, there was smoke in the bedroom, Firemen arrived within a couple of minutes. Just a bit of smoke coming from the back and the next minute it was engulfed in flames," she said.

Subsequent investigations by Persimmon Homes found missing fire barriers at 37% of homes on the Greenacres estate, the report stated.

In Coventry, a Persimmon Homes building containing around 48 apartments was evacuated in 2018 after the discovery of a number of defects including missing fire barriers. Some residents are still living in temporary accommodation while retrofitting and other works are carried out, the report added.

Persimmon confirmed that since the issues in the South West came to light it had written to 3200 home owners in the region and set up a "dedicated team" to carry out inspections.

It said that, in total, 2700 properties have been inspected, and remedial work has been carried out at 679 homes. The company said sample checks were also being conducted nationwide, saying "if these inspections indicate that we need to inspect every timber frame property then we will do so."

Building Regulations require that by law new homes are built with fire protection measures to delay the spread of fire and allow crucial time for escape.

The revelations come as the company mounts an intensive campaign so rebuild its image after an executive pay scandal, multiple complaints from customers over the quality of its work and a furore around onerous leasehold terms on new build properties.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Persimmon Market Data

Currency UK Pounds
Share Price 1,286.00p
Change Today -5.50p
% Change -0.43 %
52 Week High 1,485.00
52 Week Low 960.40
Volume 927,586
Shares Issued 319.69m
Market Cap £4,111.18m
RiskGrade 168

Persimmon Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
25.5% below the market average25.5% below the market average25.5% below the market average25.5% below the market average25.5% below the market average
83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average
Price Trend
31.81% above the market average31.81% above the market average31.81% above the market average31.81% above the market average31.81% above the market average
Sector averageSector averageSector averageSector averageSector average
Income
55.83% above the market average55.83% above the market average55.83% above the market average55.83% above the market average55.83% above the market average
47.37% above the sector average47.37% above the sector average47.37% above the sector average47.37% above the sector average47.37% above the sector average
Growth
98.87% below the market average98.87% below the market average98.87% below the market average98.87% below the market average98.87% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 10
Sell 1
Strong Sell 0
Total 15
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Persimmon Dividends

  Latest Previous
  Final Interim
Ex-Div 20-Jun-24 12-Oct-23
Paid 12-Jul-24 03-Nov-23
Amount 40.00p 20.00p

Trades for 19-Apr-2024

Time Volume / Share Price
16:36 2,535 @ 1,286.00p
16:36 2,244 @ 1,286.00p
16:35 370,970 @ 1,286.00p
16:35 422 @ 1,286.00p
16:35 184 @ 1,286.00p

Persimmon Key Personnel

Chair Roger Devlin

Top of Page