Persimmon is to open 75 new sites in the next few months as the firm expressed "optimism" about its business and announced a half year underlying profit of £39.4 million compared with a £16.7 million loss last year.
Persimmon's legal completions are up 16% in the period to 4,657 and revenue 27% higher at £776.6 million. Forward sales are "strong", says the firm, at around £912 million compared to £638 million this time last year. Average selling prices have risen 8.6%.
The firm announced a write back of £70.7 million and the restoration of a dividend at 3p per share. "We expect annual volume growth of new home sales to continue to be steady in line with any general improvement in the economy," said chairman John White. "Overall, while we currently remain cautious, we are optimistic about the future of our business," he added.
Source: Housebuilder
See Also: Property News (0), Persimmon Homes (0), Housebuilder (0)
Date Published: 24 August 2010
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