Jump in profits for Persimmon

<p>Persimmon has seen its profits rise by 40 per cent.</p>

Home-builder Persimmon has seen a big rise in its profits in the first half of the year.

It was confirmed by the company that in the six months to the end of June, it made £135 million, up from £97 million in same period in 2012, a rise of 40 per cent.

Chairman Nicholas Wrigley stated that he expects the firm to continue to make good progress in the second half of the year, though he noted he is "mindful" the state of the economy is still posing a challenge despite slim levels of growth.

The economy expanded by 0.6 per cent in the second quarter of the year, up from just 0.3 per cent between January and March.

"Throughout the second half of this year, we will continue to focus on the basics of good house-building to deliver further improvements in the performance of the business," Mr Wrigley said.

In the early stages of trading today, the share price of Persimmon remains flat.

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