TIDMPSN
RNS Number : 7206K
Persimmon PLC
24 April 2020
24 April 2020
Persimmon plc
("Persimmon" or "the Group")
COVID-19 Update
On 25 March 2020, Persimmon announced the implementation of a
range of measures in response to the COVID-19 outbreak, including
the closure of all of its sales offices, the migration of non-site
colleagues to home working and an orderly shutdown of its
construction sites. The Group is today providing a further update
on the status of its operations, including the announcement of a
phased restart to work on site with effect from 27 April 2020, in
response to the UK Government's objective of getting the
construction sector back to work.
Throughout this period, the Group's top priority is the health
and safety of the public, and its customers, colleagues,
sub-contractors and suppliers, and Persimmon continues to closely
follow Public Health England's guidance including instituting and
maintaining social distancing practices.
Customers
Having made a swift transition to home working in line with
Persimmon's existing business continuity planning, the Group's
sales teams have continued to serve new and existing customers,
making use of online resources, including virtual viewings and
digitalised reservation processes. This has resulted in c. 820
gross private sales reservations being secured in the five weeks
ended 19 April 2020. Cancellation rates remain at historically low
levels. Our customer care teams have also remained active,
continuing to handle all incoming enquiries, and preparing a
schedule of work which will commence as soon as restrictions on
home visits are relaxed. Emergency requests are being dealt with as
required.
Where necessary, and within the bounds of social distancing
restrictions, construction work has continued in certain limited
instances to complete the construction of new homes to ensure that
no customers were left homeless through this period.
Suppliers
The Group has continued to offer its full support to its
suppliers, including making forward funding available where
necessary, to help them manage through the crisis and to ensure
they are able to recommence supply immediately, once conditions
allow.
The Group continues to pay all supplier invoices in a timely
manner, with 95% of invoices being settled within 60 days, in
compliance with the requirements of the Prompt Payment Code, which
Persimmon fully supports.
Colleagues
Following the announcement of enhanced Government and Public
Health England guidance on Monday 23 March 2020, non-site
colleagues were transferred to home working, with only a skeleton
office staff remaining in place to facilitate the wider workforce
working from home. The transfer to home working was achieved
swiftly and efficiently in line with our business continuity plans
with all activities continuing to make good progress.
Colleagues working from home have continued to progress planning
permissions, technical drawings, procurement, liaison with our
sub-contractors, and all other work required to prepare sites for
the restart of activity, to ensure this can be achieved swiftly.
These home working arrangements will continue until further
guidance from Government and Public Health England is provided.
Persimmon places great importance on supporting all colleagues
through the crisis period and on ensuring that their skills are
retained within the business into the recovery. Around 30% of Group
colleagues have been unable to work during the shutdown period but
have continued to be paid in full by Persimmon. The Group has not
made use of the Government's Coronavirus Job Retention Scheme to
furlough staff, has no current plans to access any of the UK
Government's COVID-19 funding programmes and continues to pay all
taxes promptly.
We are proud of the way our Persimmon colleagues have responded
to the COVID-19 challenge to support their local communities
through voluntary work, charity support and other practical
measures such as donation of essential PPE to the NHS.
Re-commencement of construction activities
The Government has issued clear guidance that it sees
construction as a vital element of the UK economy and that where
sites can comply with the Construction Leadership Council's
Standard Operating Procedures, then they should continue to
operate.
Persimmon is keen to support the Government in meeting this
objective but the health, safety and wellbeing of the public and
everyone who works on our sites and in our offices remains our top
priority, and we will not recommence construction operations until
we are satisfied that it is safe to do so. In the period since 25
March 2020, working closely with our colleagues, sub-contractors
and suppliers, we have therefore developed and tested a range of
new site protocols to enable work to recommence, while ensuring
that the necessary social distancing restrictions are strictly
enforced. These new measures are fully compliant with UK Government
and Construction Leadership Council guidance.
The Group is therefore announcing today that it will begin a
phased re-opening of its construction sites from the morning of
Monday 27 April 2020 which will allow us to support our customers
by completing the construction of the new homes they have purchased
in a safe and responsible manner.
David Jenkinson, CEO, said: "The UK Government has been very
clear on the importance of the construction sector to the UK
economy and its desire to see activity continue through the current
period of crisis, provided appropriate public health measures are
adopted.
"Nothing is more important to us than the health, safety and
wellbeing of the public, our colleagues, sub-contractors and
suppliers. Having spent the last month developing and testing new
site protocols that incorporate the necessary social distancing and
protective measures, we believe that we are now able to return to
site safely and support the UK's economic recovery from the
pandemic. These new measures are fully compliant with Government
public health guidance and will be strictly enforced by a
specialist team, with any individual failing to uphold standards
being subject to disciplinary action and removal from site.
"Persimmon's strong financial liquidity has enabled us to
maintain our operational capability through this period by
supporting all our colleagues on full pay, which will allow us to
reopen sites swiftly, and emerge from the shutdown well-prepared
and ready to deliver the new homes the country needs, aided by our
strong work in progress position."
"The commitment from our colleagues throughout this most
challenging period, both to the business and to the wider
communities in which we work, has been exceptional and I would like
to thank them all for their unstinting support."
The Group will announce a trading update for the period from 1
January 2020 to date, on 29 April 2020, ahead of its AGM.
Annual General Meeting
The Company's AGM will be held on 29 April 2020 at the Company's
Head Office at Persimmon House, Fulford, York, YO19 4FE. The health
and well-being of our shareholders is vitally important to us, and
in line with Government guidance shareholders cannot be permitted
to attend the AGM in person this year. Instead, the meeting will be
available for shareholders to view from home via a webcast. We
encourage shareholders to vote by proxy, the deadline for
submitting proxies will be 12.00pm on Monday 27 April 2020.
Shareholders have the opportunity to submit questions to the Board
prior to the meeting via email.
For further details please see our corporate website,
https://www.persimmonhomes.com/corporate .
This announcement contains inside information. The person
responsible for arranging the release of this announcement on
behalf of the Group is Tracy Davison, Company Secretary.
For further information, please contact:
Citigate Dewe Rogerson
Simon Rigby / Kevin Smith / Jos Bieneman
Tel: +44 (0)20 7638 9571
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END
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