Persimmon reports healthy rise in profits

The York-based builder, whose brands include Charles Church and Westbury, saw revenues rise 13 per cent to £806.7m in the six months to June 30.

The strategy helped underlying pre-tax profits hit £98.7m, meaning the group is on course to ramp up dividend payments as part of plans to return £1.9bn of surplus cash to shareholders over the next nine years.

The group said private reservations have slowed from the 18 per cent growth in the first half but are still five per cent ahead of last year since the start of July, while it has already sold 220 homes through the Government’s NewBuy scheme, which encourages the return of 95 per cent mortgages.