Persimmon first half profit up 30% to £457m

York-based house builder Persimmon said its revenue rose 12% to £1.66 billion and profit before tax increased 30% to £457.4 million in the first-half of the year.

Average selling price was up 4% to £213,262.

9,319 plots of new land were secured in the period, taking the company’s consented land bank to 98,712 plots.

Persimmon CEO Jeff Fairburn said: “The successful execution of the group’s long term strategy continues to support excellent trading results as seen again in the first half of 2017.

“Our focus on meeting market demand to deliver high quality sustainable growth in each of our 29 regional businesses is delivering excellent outcomes for our customers, our shareholders, and all our stakeholders.

“The market remains confident.

“Customer interest in our developments remains strong with encouraging levels of interest through both our websites and our sales outlets as we trade through the quieter summer weeks.

“Our private reservation rate over recent weeks is 2% ahead year on year.

“Whilst we remain vigilant to changes in market conditions we also recognise we are in a strong position to take advantage of opportunities that arise.

“We are looking forward to a good autumn sales season.

“With a high quality land bank, very strong balance sheet and excellent forward sales the group has built a platform for its future success.”