Builder Persimmon says sales stay strong after 57 pct profit rise
LONDON, Aug canada goose uk black friday 19 (Reuters) canada goose coats on sale British housebuilder Persimmon Plc posted a 57 percent profit Canada Goose Online rise and said it was trading ahead of last year in the Canada Goose online traditionally slower summer period, Canada Goose Outlet having seen little evidence so Canada Goose Parka far of a recently flagged slowdown in the housing market.
Its shares jumped to a five month high before canada goose clearance sale giving up most of the gains to canada goose clearance trade up 0.5 percent at 1,342 pence by 0853 GMT.
Persimmon, whose lime green logo sprouts from some 400 developments across Britain, is among major housebuilders buy canada goose jacket cheap to have benefited from government schemes such as to Buy which enables buyers with small deposits to cheap canada goose uk get a mortgage.
Chief Executive Jeff Fairburn said the uk canada goose group had worked hard to increase volume to meet demand, encouraged by government measures to underpin the housing market and help stimulate broader economic growth.
Persimmon sold 6,408 new homes in the six months to end June, up 28 percent on the year before and reflecting the same canada goose uk outlet trend as benefited rival Bovis Homes Group Plc, which on canada goose coats Monday posted a 150 cheap Canada Goose profit jump thanks to a record number of completions.
Help to Buy, under which the government offers a guarantee for any mortgage borrowing cheap canada goose outle above 80 percent of a property value up to a maximum 95 percent, along with the growing availability of mortgage Canada Goose Coats On Sale canadagooseparks financing, have been instrumental in the market upturn.
Property prices recorded their biggest annual rise last month since the start of the financial crisis, according to mortgage lender Halifax canada goose uk shop (part of Lloyds Banking Group Plc ).
However, there are signs that rises might Canada Goose sale be starting to moderate, with a survey on Monday showing asking prices falling in August at the sharpest rate on record for that month.
VISITOR LEVELS Fairburn said Persimmon canada goose store was seeing a bit more seasonality but visitor levels to its sites this year were still up about 6 percent on the year before.
are pleased with the rate we are seeing, he said. have good forward sales (of properties reserved or bought but not yet completed), up 22 percent at 1.5 billion pounds, which gives buy canada goose jacket us good visibility to press on with the build.
Sales reservations in the traditionally slower summer months were ahead of last year, up 9 percent in the canada goose factory sale period since July 9, he added.
Persimmon, which flagged last month that revenue had risen by a third to 1.2 billion pounds ($2 billion), reported a first canada goose half underlying pretax profit of 212.9 million pounds.
Analyst Clyde Lewis at brokerage Peel Hunt, who has a rating on the stock with a price target of 1,455 pence, said Persimmon had made excellent progress in the first half.
trading has held up well, despite tougher canada goose black friday sale comps, he said, referring to comparisons with last year numbers. expects to see first half volumes account for 48 percent of full year figures; uk canada goose outlet this implies a small upgrade to our estimates, along Canada Goose Jackets with a slight tickle on our ASP (average selling price) assumption.
The builder is predicted to post a full year pretax profit of 439.2 million pounds, according to a Thomson Reuters poll of 15 analysts, up on a 2013 profit of 329.6 million. canadian goose jacket ($1 = 0.5986 British Pounds) (Additional reporting by Costas Pitas; Editing by Karolin Schaps and David Holmes).