Housebuilder Persimmon has reported a fall in revenue and pre-tax profits in what it says is a return to more normal trading patterns after a particularly strong 2021.
The York-based firm pointed to private sales being 8% up on pre-pandemic levels of 2019 as revenue for the first half of 2022 was £1.69bn, compared to £1.84bn in the same period last year. Pre-tax profits were £40.4m lower than 2021 at £439.1m.
Inflationary pressures driving up building costs were said to be largely offset by price growth with Persimmon's average house now selling for £245,597 - a £9,398 rise on the previous year. Investors were told the firm had completed 6,652 new homes in the six months to the end of June, versus 7,406 in the same time frame last year, as it worked to find new land after a buying pause three years ago.
