Persimmon appoint Bank of England Chief Operating Officer to their board

Persimmon appoint Bank of England Chief Operating Officer to their board

Persimmon (LON:PSN) have appointed the Bank of England Chief Operating Officer to its board in an announcement this morning.

The firm said that Joanna Place will be taking a place on the Persimmon board as an independent non executive director.

Place has has held her Chief Operating Officer Role at the Bank of England for around three years.

Persimmon expressed their delight on the appointment noting that Place had over 30 year of industry experience working within sectors such as finance, technology, information and physical security, human resources, property, and procurement.

Notably she was a director of Human Resources before attaining the Chief Operating Office position.

Roger Devlin, Chairman of Persimmon, said:

“Jo is an outstanding talent and Persimmon will benefit from the great breadth of her management experience, in human resources in particular, in the course of her 30-year executive career at the Bank of England.  Her knowledge and insights will be invaluable to the business as we continue to implement our programme of progressive change. I am pleased to welcome Jo to the board.”

Persimmon continue 2020 in steady nature

In January, Persimmon told shareholders that they expect a decline in full year revenues.

Across the annual period, the firm said that revenue is expected to total £3.65 billion, a 2.4% fall from £3.74 billion last year.

Notably, new housing revenue dropped 3.5% year-on-year to £3.42 billion with new legal completion volumes down 3.6% to 15,885 from 16,449.

The firm said that average selling prices remained consistent with 2018, in a year of political uncertainty which has hampered the property development market.
Average selling prices edged 0.1% higher to £215,700 from £215,563.

In Westbury Partnerships, which sells social housing to housing associations in the UK, the unit’s average selling price rose 1.3% year-on-year to £119,150 from £117,653.

Westbury Partnerships contributed 21% of group sales in 2019, Persimmon said, up from 19% in 2018.

The firm looked at the new year and told shareholders that it enters 2020 with froward sales totaling £1.36 billion, 2.9% down year-on-year from £1.40 billion.

Persimmon added that they have 365 developments in construction, which remains flat year on year and plans to open 80 new sites in the first half of 2020.

Shares in Persimmon trade at 3,267p (+1.17%). 17/2/20 9:56BST.