Persimmon has announced its half year results for the six months ended 30 June 2017.
During the period the housebuilder’s profits surged by 30%, whilst revenue is up 12%. Profit before tax for the first half of the year was £457million, revenue in the same period was £1.66 billion.
Other numbers ahead of the same period a year ago are legal completions which were up 8% and the average selling price, up 4% and now standing at £213,262.
Jeff Fairburn, Group Chief Executive, 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.”
He went on to explain that the in the company’s opinion, “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 c. 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.”