Housebuilder reports jump in profit and hails government measures to stimulate housing market
Housebuilder Persimmon has reported a 38% increase in pre-tax profit in the first half of 2013, with the firm hailing government schemes designed to stimulate the housing market.
In its results for the six months to 30 June 2013, the firm reported a pre-tax profit of 拢133m, up from 拢97m over the same period of 2012.
Persimmon report revenue of 拢900m over the first six months of 2013, up from 拢807m over the same period last year.
The firm said the government鈥檚 Help to Buy scheme was boosting sales adding that its order book was now 21% bigger at 拢1.3m than it was at this point last year.
Nicholas Wrigley, chair of Persimmon said the firm was investing in the business 鈥渋n support of increasing our future volumes鈥�.
He added: 鈥淚n addition to good growth in sales and profits we have also reached our target margin range of 15-17% eighteen months ahead of plan. Our focus remains on the delivery of our long term strategy and we are well placed to continue to make good progress.鈥�
Wrigley said the firm鈥檚 success had been down to the 鈥渆xpertise of all our employees鈥�. He added that he expected to see an increase in the number of customers visiting the firm鈥檚 showrooms over the coming months.
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