Housebuilder Persimmon Homes has reported a 15% rise in both pre-tax profits and revenue in the first half of the year despite “challenging” market conditions.
In the six months to 30 June, Persimmon reported pre-tax profits of £168m, up on the £146.7m recorded in the first half of last year. Meanwhile, revenue rose from £1.5bn in H1 2025 to £1.73bn.
The group also saw a 13% increase in housing completions, rising from 4,605 to 5,189. The average housing sale price increased 1% to £285,752, but the group’s new housing revenue rose 13% to £1.48bn, up from £1.31bn.
Persimmon said it is on track to deliver 12,500 new homes for the full year, with pre-tax profits to stand in line with market expectations at approximately £454m. Last year, Persimmon reported a 17% increase in underlying operating profits to £472.1m, with completions standing at 11,905 homes.
Chief executive Dean Finch said the group delivered a “strong first-half performance” in a “challenging market”.
He added: “Market conditions remain challenging, with affordability constraints and build-cost pressures affecting the sector. We have responded quickly, taking clear management action focusing on driving operational efficiencies throughout the business.”
The group’s underlying basic earnings per share stood at 38p per share, a 3% increase compared with 36.8p last year, reflecting a normalised tax charge in 2025.
Persimmon is also continuing its “disciplined” approach to land buying, alongside other major housebuilders such as Taylor Wimpey, Barratt Redrow and Berkeley Group.
Finch said: “Our disciplined land buying, industry-leading cost efficiency and vertically integrated operating platform give us important structural advantages as we seek to mitigate cost pressures and support growth.
“Having significantly invested in our strategy over recent years, our focus is increasingly on converting those investments into improving returns.”
Oli Creasey, head of property research at Quilter Cheviot, said the results are “unusual for a UK housebuilder as the company is in relatively good shape”.
He added: “Today’s results have given management the confidence to make a soft increase in full-year guidance, indicating that completions will be around 12,500, previously the upper end of the provided range.
“Housebuilders are operating in one of the most challenging markets in recent history, and Persimmon is navigating it well. While performance is below long-term averages, particularly the pre-Covid period when Help to Buy was boosting sector-wide returns, the company remains well ahead of peers.”
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