Persimmon – 1127p

19 April 2013 – interim management statement

Persimmon has made a good start to the year, with visitor numbers to sites up 5% and site numbers up 52 to 385. The group are encouraged by the Governments ‘ Help to Buy’ Scheme, although it remains too early to measure the increase of completions brought about by the scheme. Persimmon remains well on track and is set to make its first capital return to shareholders of 75p in June 2013. The board are also proposing a final dividend of 10p in 2014. The shares have had a strong run since we tipped them in February. The capital payment this year and in the future looks attractive. BUY FOR INCOME.

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