Persimmon Profit Surges After Raising House Prices
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Persimmon Plc, the U.K.’s third-largest homebuilder by volume, said first-half profit surged after raising prices and cutting construction costs in an improving housing market.
Net income increased to 80.1 million pounds ($123 million), or 26.5 pence a share, from 9.8 million pounds, or 3.3 pence, a year earlier, the York, England-based company said in a statement today. Revenue climbed 27 percent to 776.6 million pounds after 4,657 houses were sold.