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.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.