Builder surges after EU vote

Housebuilder Persimmon has reported a surge in profits and said that demand has held up following Britain’s decision to leave the European Union.

The company said pre-tax profits rose 29% to £352.3million for the first half of the year, while revenues increased 12% to £1.49billion.

Persimmon’s chief executive Jeff Fairburn said that, despite increased uncertainty, customer interest since the vote has been “robust”.

However, Persimmon, which is developing two sites in Aberdeen, added that it will “remain cautious” with respect to new land investment in the face of uncertainty created by the vote.