Persimmon reports increase in pre-tax profits

Housebuilder Persimmon reports  pre-tax profit has surged by almost a third on the back of solid revenue growth, continued improvement in operating profitability and a strengthening of the company’s financial position. Pre-tax profit for the six months ended 30 June were £272.8m from £208.9m in the first half of last year, on revenue of £1.33bn, up 11% from £1.20bn.

Persimmon sold 6,855 new homes during the first-half, up by 7 per cent over the prior year, while the average selling price rose by 4 per cent to £194,378.

Chief executive Jeff Fairburn reportedly said “Persimmon expects growth in mortgage lending to continue, with approvals in June of 66,582, up 2 per cent compared with the same month in 2014.”

He added: “We believe that the combination of appropriate lending regulation, a measured approach to the assessment of customer credit worthiness and the pursuit of balanced oversight measures by the Bank of England will support the sustainability of the housing market over the longer term.”

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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