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Persimmon is at the mercy of an unpredictable market

The housebuilder is making money, but the outlook remains mixed
August 17, 2022
  • Completions down on last year
  • Construction costs continue to rise

Taken in isolation, Persimmon’s (PSN) results for the six-month period to 30 June make the stock look appealing. Pre-tax profit is a healthy percentage of turnover, the dividend yield is high and with such strong figures the low price to earnings ratio and discount to net asset value suggest Persimmon is undervalued.

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