Q3 2020 Persimmon PLC Trading Statement Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Rajesh Patki - JPMorgan Chase & Co, Research Division - Analyst : Got 2 questions. So the first question is on the pricing on the forward sales. If you can provide some color on the GBP 1.4 billion forward sales for next year. And also the ASP for the first half was helped by the mix impact from fewer affordable units versus last year. Do you expect a similar mix for the second half? And the second question is on the outlet numbers. The active outlets are 13% lower than last year. The reduction entirely due to the strong sales that you achieved this year? Or have you seen any slowdown in developing new outlets? How should we think about the impact of fewer sites going into next year?

Question: Rajesh Patki - JPMorgan Chase & Co, Research Division - Analyst : Yes. And the mix effect for the second half?

Question: Aynsley Lammin - Canaccord Genuity Corp., Research Division - Analyst : Just 3 for me. First of all, wondered how you're kind of managing the land market at the moment. What you're seeing in the land market, are you certainly becoming a bit more aggressive or assertive in the land market given recent trends? Secondly, interested in your comments on what you're seeing in the mortgage market and whether that's kind of getting a bit more difficult or not? And then thirdly, I understand you don't want to kind of give too much guidance given what you just said. But just I guess, from what you've said, we should take away the fact that you'd be pretty happy with where consensus is currently? I think it's around GBP 850 million PBT for this year. So any comments on that, Mike, would be great.

Question: Charlie Campbell - Liberum Capital Limited, Research Division - Analyst : Couple of questions from me, please, if I can. You just talked about the mortgage market being supportive. But just wondering if you've seen anything on down valuations at all. Clearly, banks have some reasonably kind of cautious assumptions about house prices in their models. And therefore, just wondering if that might start to kind of play out in down valuations? And then second question, specifically for Dean. But it would seem to me from your work in previous companies that customer care and customer quality are high on your list of priorities. Clearly, it's been important -- more important to Persimmon over the last sort of year or 2. I'm just wondering kind of how far -- how much further do you think there is in terms of journey, is that something that you will look to prioritize and improve further? Or do you think actually having gone around, a very good job is already being done on that front?

Question: Gavin Andrew Jago - Barclays Bank PLC, Research Division - Analyst : Just a couple for me, please. Just around the Help to Buy really, I wonder if you could give us some figures for, I guess, what proportion Help to Buy has been through the second half. And I think you kind of covered it early on in terms of the next phase of, but just how you're thinking about positioning the business for, I guess, likely on Help to Buy in March 2023, would be interesting at this point. And then final one just on build costs, REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 10, 2020 / 9:00AM, PSN.L - Q3 2020 Persimmon PLC Trading Statement Call I think, Mike, you covered off, I guess, what FY '20 is going to be, but any indication at this stage, how you're feeling about build costs trending into FY '21?