Persimmon has lost 6% of value in the last month alone, but its fundamentals and prospects remain intact. While it's true that the shares of most homebuilders look seriously expensive, Persimmon is one of my favorite stocks in the sector because: a) it ...
A year ago you could have been forgiven for thinking the boom in housebuilding might have been running out of steam -- after all, the big builders had already put in a storming few years and their share prices were flying.
Housebuilder Persimmon issued an upbeat trading statement this morning, highlighting a 6% increase in its weekly rate of sales, and a 7% increase in forward sales revenue, which rose to �2.0bn during the first quarter, including completions.
The UK economy is currently one of the fastest growing economies in the developed world. And, with interest rates set to stay low over the medium term (and rise at a slow pace thereafter), the outlook for consumer-focused stocks appears to be very bright.