Persimmon builds on growth as pretax profits reach £272m
HOUSEBUILDER Persimmon has seen an increase in pretax profits for the first half of 2015, bouncing back from a pre-General Election lull.
Pretax profits increased to £272.8m in the first half from £208.9m for the same period in 2014, which was described as a “strong and balanced year” for the firm.
The firm reported healthy revenue growth of 11%, up to £1.33bn.
The York construction firm delivered 6,855 homes across the UK in the first half of the year, an increase of 7% on last year, as average selling prices increased.
The firm sold houses at an average price of £194,378, up from £186,970 in 2014.
In a statement chairman Nicholas Wrigley said: “Management continue to target high quality land investment in support of the delivery of superior shareholder returns through the cycle.
“Customer activity remained healthy throughout the first half of 2015 and strengthened after the General Election in early May.
“Since we launched our new strategy in 2012 we have invested £2.17 billion in land, opened 607 new sites including the 122 new outlets opened in the first half of 2015 and have delivered c.41,800 newly built homes to our customers. “
