UK housebuilder Persimmon reports record profits

British housebuilder Persimmon today said there had been a revival in the market early this year as it reported record profits.

Persimmon said 2005 had started positively, with a “marked upturn” in demand for its homes in the early part of 2005.

The group said pre-tax profits in the year to December 31 had risen 33% to £470.4m (€682.3m), despite what it described as a more challenging housing market since May 2004.

Persimmon said it had sold about £1bn (€1.4bn) worth of homes in 2005 so far, 15% up on the same time last year. The group sold 12,360 properties in 2004 worth about £2.13bn (€3bn).

Chairman Duncan Davidson said the company was in a strong position to maintain good sales volumes during 2005.

“The group is well positioned for the coming year and I am confident we will continue to move forward successfully,” he said.