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Persimmon boosts profit by a third in H1 2017

Persimmon has posted an increase in pre-tax profit of almost a third on the back of a boost in revenues, according to the housebuilder’s latest results.

The company reported half-year profit of £457.4m for the six months to 30 June, up from £352.3m for the same period of 2016. Revenue rose 12 per cent to £1.66bn from £1.49bn in H1 2016.

Persimmon also reported a 10 per cent rise in its landbank of consented schemes, which grew by 9,319 plots to stand at 98,712 across the business.

The UK’s third-largest housebuilder noted that the market remained “resilient” despite headwinds including higher inflation.

Persimmon group chief executive 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.”

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