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Persimmon taking advantage of house market opportunities

Published: 17:42 19 Aug 2014 AEST

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House builder Persimmon (LON:PSN) said it continued to take advantage of market opportunities, as it revealed interim revenues had grown by third to £1.2bn.

A total of 6,408 new homes were sold, up 28%, whilst the average selling price rose 4.3% to £186.970.

The builder’s pre-tax profit for the first six months of the year came in at £212.9mln, up 57% compared to the corresponding period of 2013.

"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,” said chief executive Jeff Fairburn.

“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."

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