Housebuilder Persimmon, which is in the process of selling Beazer Partnerships, including the Torwood timber frame factories, has seen profits soar in the first half.

Pre-tax profits rose 42% to £68.8m while turnover rose to £698.1m, partly due to the acquisition of Beazer in March.

An announcement on the sale of Beazer’s timber frame and social housing construction operation, Beazer Partnerships, to a management buyout team is expected within the next few weeks.

Persimmon has shed hundreds of jobs since buyinig Beazer and expects to make annual ‘synergy savings’ in excess of £33m.

The company says it will focus on improving operating margins.