Persimmon PSN ends 2016 full of optimism and certainly does not share the gloom displayed by many of its competitors. Revenue rose by 8% during the year and average sales prices were increased by a modest 4% which compares favourably with the greed shown by many of the household names in the industry. Competitive mortgage rates remain a key factor behind the strength of the market, Autumn reservations were strong and second half private sales rates were 15% ahead of 2015 and legal completions rose by 10%. Second half margins are also expected to have improved because of cheaper prices for land.
Churchill China CHH also has a smile on its face with its update for 2016. final quarter trading has been ahead of expectations, performance in export markets has been strong and the operating performance for the year to the end of December gas been ahead of market expectations and well ahead of 2015. Preliminary results will be announced on the 28th March.
<img class="alignleft" src="https://upload.wikimedia herbal slimming pills.org/wikipedia/en/d/d4/PureCircle_logo.jpeg” width=”113″ height=”68″ />Pure Circle PURE experienced very strong growth in 2016 in Europe and in Latin America but first half sales are expected to be down 14% on 2016 following the detention of shipments by US Customs which has been large enough to offset growth in the rest of the world. First half group profits are expected to be down by 19% as a direct result of this and for the full year it is anticipated that for the full year last years profit of $5m. will be turned into a loss of $2m. The company has been working with US Customs from whom a final decision is now awaited.
Science in Sport SIS enjoyed strong growth in the year to 31st December with sales rising by 30%. Direct sales for the year doubled and the new Australian operation delivered sales ahead of expectations. Continuing strong growth is confidently expected for 2017 and beyond.
Johnson Services JSG is disposing of its dry cleaning business to Timpsons for £8.25m. Results for the year to 31st December will be slightly ahead of current market expectations.