Homebuilder Persimmon Plc Profit Tops 1 Billion Pounds After Help-to-Buy Boost

March 4, 2019
Jack Sidders - Bloomberg

Persimmon Plc became the first U.K. homebuilder to report profit of more than 1 billion pounds ($1.3 billion) as the government’s Help-to-Buy policy bolstered sales.

The York, England-based company was among the biggest gainers in the FTSE 100 index of stocks on Tuesday after it announced a 13 percent rise in pretax profit. Help to Buy accounts for about half of Persimmon’s sales and selling homes built on cheap land to buyers benefiting from the interest-free loans helped the company achieve record margins.


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