Persimmon expects major build in profit

Persimmon said it was set for a 'substantial' rise in profits
Persimmon said it was set for a 'substantial' rise in profits
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Housebuilder Persimmon confirmed 2015 was another booming year for Britain’s property market as price rises and government measures helped boost sales.

The York-based group, which trades as Persimmon Homes, Charles Church and Westbury Partnerships, said there was a 13 per cent year-on-year jump in revenues to reach £2.9 billion, helped by a surge in legal completions over the second half.

Completions rose 8 per cent over the year as a whole, but in the latter six months were 13 per cent higher than the first, at 7,717.

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During the year Persimmon also saw its average selling price rising 4.5 per cent to around £199,100. Additionally it starts 2016 with a forward order book of around £1.1bn, 13 per cent ahead of the previous year.

It said 2015 marked “another year of strong growth for the group” and added that it was set for a “substantial” rise in pre-tax profits for the year.