26-02-2008
Persimmon reports strong desire and demand for homes
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
UK house builder Persimmon has reported strong pre-tax profits for 2007.
Despite the statement from the chairman of Persimmonn, Jim White, that 2007 had been a "challenging year" for the company, it has nevertheless reported pre-tax profits of £585.1 million for 2007.
This compares with the £582.1 million reported by the company in 2006. "There remains an underlying demand and desire for new homes but we have been experiencing a period of 'wait and see approach'," said the company.
Indeed, while the company has confirmed an increase in the number of show home visits during the early part of this year, it also noted that the number of reservations for new homes has fallen. This fall comes after a number of cancellations last year, as purchasing decisions were reversed on the back of the credit crunch.
Established in 1972 and based in York, Persimmon is one of the UK's largest firms of house builders. The firm also owns the house builder Charles Church.