The UK’s biggest housebuilder Persimmon plc, which builds up to 10% of its houses in timber frame, has announced a 42% increase in pre-tax profits to £267.6m for the year ending December 31, 2002.
The company was helped by an “unprecedented” volume of sales during the first four months of 2002, with demand remaining strong so far this year.
A total of 12,352 legal completions were made during the year, while the average selling price was up 13% to £138,530. More than 90% of its homes were sold outside the south-east of England.
Persimmon’s prefabricated timber frame homes, favoured in Scotland, are sourced from several providers including Belan Ltd‘s Torwood factory. It says off-site assembly in a controlled environment helps improve the overall quality of build.
Group chief executive John White said: “While price growth has undoubtedly slowed in the south-east, particularly on properties over £250,000, we are confident that the demand for new homes will continue to be strong.”
