Persimmon sharpens axe on costs as inflation threat grows

Persimmon is stepping up a procurement and cost-cutting drive after warning inflation could add up to £50m to its build costs over the next 18 months.
The house builder, which increased first-half completions by 13% to 5,189 homes, said it has already identified enough procurement savings and operational efficiencies to offset at least half of the expected inflation hit, with more savings still being pursued.
Chief executive Dean Finch said the group has launched a broad review covering pr