Profits soar at housebuilder
A housebuilder with several projects in Kent has reported a rise in pre-tax profits by more than 50% as the construction industry continues to thrive after the six-year economic downturn.
Profits before tax at Persimmon grew by 57% in the first six months of this year to £212.9m.
The company – which has developments in Ashford, Manston and Strood, plus Chatham, Iwade and Sevenoaks through its Hillreed Homes brand – also reported a rise in completions grow of 28% to 6,408.
Its average selling price increased 4.3% to £186,970 across the UK, compared with the same period last year.
Persimmon Homes South East managing director Andrew Shankster said: “Persimmon has produced another strong performance, taking advantage of the current market opportunities to deliver growth whilst strengthening the financial position of the business.”