The UK’s most profitable housebuilder has said that its build volumes could nearly halve this year if trading conditions fail to improve from their current level.

Shares in Persimmon dropped 10% in early trading as the housebuilder published full year results for 2022 in which it said it could complete as few as 8,000-9,000 sales in 2023 unless there was a market improvement. If realised, 8,000 completions would represent a 46% drop on the 14,868 homes completed in 2022.

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