Persimmon profits up 52%

National housebuilder Persimmon has reported a 52% increase in underlying half-year pre-tax profits and says its most recent trading since June 30 is running 4% ahead of a year ago.

Pre-tax profits were £59.7m (2010: £39.4m) for the six months ended June 30, while sales were £712.8m (2010: £776.6m).

The housebuilder completed 4,439 new home sales (2010: 4,657) for an average selling price of £162,647 (2010: £168,936), reflecting a greater proportion of smaller houses sold, together with an increased contribution from its affordable housing business.

Its forward order book contains a relatively high proportion of larger private homes.

Persimmon’s current order book is £1bn, 10% ahead of this time last year.

“Whilst the UK housing market remains stable we expect that it will continue to be challenging due to the overall economic situation,” it said.

Persimmon expects to complete a similar number of new homes during 2011 as it did in 2010.