Persimmon builds profits and revenue

Housebuilder Persimmon saw profits and revenue rise last year despite "challenging conditions" in the market.

The company reported underlying profits of 95.5 million, compared to just 7m a year earlier, on turnover up 10.5 per cent higher at 1.57 billion.

The builder completed 9,384 homes, a 4.5 per increase on 2009, at an average selling price of 167,249. The company is recommending a final dividend of 4.5p per share, to bring the total dividend for the year to 7.5p.