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Despite the £1 billion profit...Persimmon's had a dodgy start to the week

By Chris Bailey | Tuesday 26 February 2019

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Did you see the weekend press article that mentioned Persimmon (PSN) might lose out on future Help to Buy contracts? As I started discussing here just under a year ago, such support mechanisms distort, fail to help the really needy and have allowed the housebuilding sector to do rather well in terms of profitability. This in turn led to the bonus scandal at Persimmon, where clearly a remuneration committee were asleep at the wheel in not capping more aggressively the rewards senior executives could make…

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