Shares in housebuilder Persimmon hit their lowest price since the onset of the Covid-19 pandemic today, after the company said completions, revenue and profit all fell over the first half of the year.
The company said it had seen a “robust” start to the second half of the year, but acknowledged “near-term uncertainties” in the market.
“We are mindful of the scope for further interest rate raises as well as the broader economic challenges recently set out by the governor of the Bank of England, alongside the wider industry challenges including the withdrawal of Help to Buy,” it said. “The longer-term fundamentals of the UK housing market, however, remain strong.”
Its shares closed at 1,704p, down by 7.8% over the session at their lowest since May 2020. That made the stock the sharpest faller in the FTSE 100, which closed down by 0.27% at 7,515.
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