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Persimmon to beat market gloom

Britain's biggest house builder Persimmon is expecting profits ahead of last year despite slower trading in the first six months of 2005.
The company said that its 6,000 completions so far for 2005 were at similar levels to last year, and that margins had been maintained despite rising selling costs.

Persimmon added that it had gained from its wide geographical coverage, as some strong regional performances had countered the overall slowdown in the UK market.

It said: 'Whilst the market in some areas of the UK has slowed, there continues to be good

demand in other areas, such as Scotland and the south-west of England.

'In addition there remains an undersupply of new homes in general across the whole of the UK, which reinforces our continuing confidence in the market and in Persimmon's ability to make further progress.'

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