{"id":833387,"date":"2025-03-12T08:11:58","date_gmt":"2025-03-12T13:11:58","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/12\/persimmon-cladding-provisions-linger-above-200m\/"},"modified":"2025-03-12T08:11:58","modified_gmt":"2025-03-12T13:11:58","slug":"persimmon-cladding-provisions-linger-above-200m","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/12\/persimmon-cladding-provisions-linger-above-200m\/","title":{"rendered":"Persimmon cladding provisions linger above \u00a3200m"},"content":{"rendered":"<div id=\"wrapper_sleeve\">\n<p><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"414\" src=\"https:\/\/emap-romulus-prod.s3.eu-west-1.amazonaws.com\/wp-content\/uploads\/sites\/8\/2024\/03\/Persimmon_shutterstock.jpg\"   alt=\"Persimmon_shutterstock.jpg\"><\/p>\n<div>\n<p>Housebuilder Persimmon expects to spend more than \u00a3200m extra to remediate its remaining buildings of dangerous cladding, it revealed in its annual accounts released today (11 March).<\/p>\n<p>Persimmon made a provision of \u00a3235m for building safety remediation at the end of December 2024, according to its latest annual accounts.<\/p>\n<p>It identified 83 buildings that needed remediation following the Grenfell Tower fire, which killed 72 people in 2017. Of those 83 developments, it has completed remediation on 40 sites.<\/p>\n<p>It expects the next two years to be the \u201cpeak period of cash expenditure on this programme\u201d.<\/p>\n<p>Persimmon expects to be on site at all of its remediation projects by the end of 2025, and to complete remediation works on most of its sites by the end of 2026.<\/p>\n<p>But it said: \u201cGiven our own proactive approach, and the sustained significant publicity around cladding and building safety, we do not anticipate substantial new building additions into the programme.\u201d<\/p>\n<p>In the year to 31 December 2024, Persimmon increased its pre-tax profit to \u00a3359.1m, from \u00a3351.8m during the previous year.<\/p>\n<p>Group chief executive Dean Finch put this performance down to \u201cdisciplined investment and significant operational improvements in recent years\u201d.<\/p>\n<p>Turnover was also up at \u00a33.2bn, in comparison to \u00a32.8bn, although cash dipped from \u00a3420.1m to \u00a3258.6m.<\/p>\n<p>Finch also predicted a \u201cpositive tailwind\u201d for the firm, after recent policy announcements.<\/p>\n<p>\u201cThe government\u2019s welcome planning reforms and pro-housebuilding agenda demands more of the high-quality, affordable homes which are Persimmon\u2019s core strength,\u201d he said.<\/p>\n<p>Persimmon is one of seven <a href=\"https:\/\/www.constructionnews.co.uk\/sections\/news\/competition-regulator-launches-probe-into-major-housebuilders-26-02-2024\/\">housebuilders currently being investigated by the Competition and Markets Authority<\/a> (CMA) for potential market collusion.<\/p>\n<p>In a statement in its accounts, Persimmon said it \u201ccontinues to cooperate with the CMA in relation to their ongoing market investigation into alleged anticompetitive conduct by housebuilders\u201d.<\/p>\n<p>\u201cThe potential impact, if any, and timing is not yet known,\u201d it added.<\/p>\n<p>In January, the CMA <a href=\"https:\/\/www.constructionnews.co.uk\/government\/cma-extends-probe-into-seven-housebuilders-13-01-2025\/\">extended its investigation by five months,<\/a> and said it was looking further into whether the firms \u201cmay have exchanged competitively sensitive information\u201d.<\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.constructionnews.co.uk\/buildings\/building-safety\/persimmon-cladding-provisions-linger-above-200m-11-03-2025\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Joshua Stein<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Housebuilder Persimmon expects to spend more than \u00a3200m extra to remediate its remaining buildings of dangerous cladding, it revealed in its annual accounts released today (11 March). Persimmon made a provision of \u00a3235m for building safety remediation at the end of December 2024, according to its latest annual accounts. It identified 83 buildings that needed<\/p>\n","protected":false},"author":1,"featured_media":833388,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[101729,106333],"tags":[],"class_list":["post-833387","post","type-post","status-publish","format-standard","has-post-thumbnail","category-cladding","category-persimmon"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/833387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=833387"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/833387\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/833388"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=833387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=833387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=833387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}