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Builder in strong position

Persimmon shrugs off slowdown to report 13% profits leap

Persimmon

Customers are benefiting from competitive mortgage market


 

Housebuilder Persimmon shrugged off a slowdown in the housing market to report a 13% rise in pre-tax profits rose 13% in the first half of the year.

In the six months ended 30 June, profits grew to £516.3m from £457.4m in the same period last year. There was a 4% rise in home sales, though the average price was just 1% higher.

Chief executive Jeff Fairburn said: “We have continued to experience good levels of customer interest in our housing development sites as we trade through the quieter summer season.

“Customers are continuing to benefit from a competitive mortgage market and confidence remains resilient based on healthy employment trends and low interest rates.

“Our forward sales are 6% ahead of last year at £2.12bn which places the group in a strong position for the second half of the year.”



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