PERSIMMON Plc produced final figures yesterday better than expected with profits up
25% to £977.m. ( £782m ) and the interim dividend up from 25p to 125p, which with a
final dividend of 110p, makes the total annual dividend 245p, an increase of 74%.
Allied to this is a resolution of the botched bonus scheme, and the announcement that
for the next three years there will be 245p minimum dividends paid each year.
TAYLORWIMPEY Plc has today announced record profits of £812m ( £733m ) with profits/
dividends up by 11% and an increased order book into the new year.
Last year saw the resolution of the historical problem with long leaseholds, and the cost
has been absorbed in the 2017 Accounts, thus we can expect another record year in
2018.
The FD told me two years ago he expected they would be bigger than Persimmon by now
but they still have some way to go. This is however a company with strong management which
could now grow faster as it has a successful operation developing in Spain.

Finally ACCOR HOTELS in France has just announced the finalisation of the disposal of 55% of its
property owning subsidiary for £ 4.4billion to a group of investment funds, thus giving the
group the capital to expand and develop its operations without recourse to borrowing.
The group also intends to commence a buy back of 10% of its equity, which with the
rapid growth in China, Africa and South America, makes Accor an even more attractive
investment for the future.