Profits at Persimmon have increased by 30% as the hosuebuilder continues to reap the rewards of its long term strategy.

For the six months to 30th June 2017, Persimmon made £457.4 million in profit before tax, up from £352.3m made in the first half of 2016.

Revenue was up 12% to £1.66 billion in the first half (2016 H1: £1.49bn).

Legal completions increased 8% to 7,794, with an additional 556 new homes delivered on last year.

The Persimmon sales price increased by 3.7% to £213,982 and the sales price for Charles Church rose by 9.4% to £347,819. Improvement in Charles Church average pricing reflects a greater focus on premium locations. Charles Church delivered 900 new homes in the period (2016: 973) whilst Persimmon legally completed 5,630 new homes (2016: 5,143) across its network of 29 regional businesses. Private sales accounted for 84% of group sales; sales to housing associations totalled 1,264 new homes (2016: 1,122 new homes).

Group chief executive, Jeff Fairburn, said: “The successful execution of the group’s long term strategy continues to support excellent trading results as seen again in the first half of 2017. Our focus on meeting market demand to deliver high quality sustainable growth in each of our 29 regional businesses is delivering excellent outcomes for our customers, our shareholders, and all our stakeholders.

“The market remains confident. Customer interest in our developments remains strong with encouraging levels of interest through both our websites and our sales outlets as we trade through the quieter summer weeks. Our private reservation rate over recent weeks is c. 2% ahead year on year. Whilst we remain vigilant to changes in market conditions we also recognise we are in a strong position to take advantage of opportunities that arise. We are looking forward to a good autumn sales season.”

He added: “With a high quality land bank, very strong balance sheet and excellent forward sales the Group has built a platform for its future success.”