Persimmon builds up margins

Persimmon (PSN) achieved particularly strong margin growth and a much improved cash position in the first half. And the housebuilder’s capital return plan progressed well, having already paid shareholders £630m over the original target. The group has 29 regional businesses across the UK, all outside central London; group finance director Mike Killoran says there is a good degree of confidence in the regional markets, and Persimmon has seen firm pricing with good demand for newly-build homes.