Member Article

Outlook bright for York housebuilder Persimmon

York-based housebuilder Persimmon has reported strong trading so far this year, with both revenue and pretax profit up on last half-year.

Revenue was reportedly up 33% to £1.2 billion (2013: £90 million) for the half year to 30 June 2014 and pretax profit increased from £133 million to £208.9 million in the same half year period in 2013.

Legal completions increased 28% to 6,408 new homes sold (2013: 5,022), average selling price increased 4.3%.

The firm anticipates opening around 100 new development sites during the second half of 2014.

Jeff Fairburn, group chief executive, said: “Persimmon has produced another strong performance in the first half of 2014, taking advantage of the current market opportunities to deliver growth whilst strengthening the financial position of the business.

“As we have entered the traditionally slower summer trading weeks, we have been encouraged by our private sale reservation rate since 1 July which is currently running 9% ahead of the same period last year.

These results demonstrate the ability of the Group to successfully execute its operational objectives to deliver the ten year strategic plan launched in 2012. We remain confident of Persimmon’s continued successful development.“

This was posted in Bdaily's Members' News section by Clare Burnett .