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Persimmon H1 Profit Down; Says Confident Of Future Prospects - Quick Facts

UK-based home builder Persimmon Plc. (PSN.L) reported Tuesday that its first-half profit before tax was 509.3 million pounds, down from last year's 516.3 million pounds.

Basic earnings per share were 129.3 pence, lower than last year's 134.9 pence.

Total Group revenue dropped 4.5 percent to 1.754 billion pounds from prior year's 1.836 billion pounds. The company sold 7,584 new homes in the period, lower than last year's 8,072 new homes.

Total new home average selling price, however, grew to 216,942 pounds from 215,813 pounds a year ago.

Total forward sales revenue was 2.048 billion pounds, compared to 2.120 billion pounds last year.

The company's average weekly private sales rate per site for the year to date is 0.72, compared to 0.76 last year.

Looking ahead, Chairman Roger Devlin said, "With our strong financial position, high quality land holdings and healthy forward sales we remain confident of the Group's future prospects."

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