Persimmon – profits up 12% – see how they achieve it

Persimmon saw first half pretax profits climb to £352.3million as revenues increased by 12 per cent to £1.49billion, with its private sales reservations up 17 per cent.”

http://www.dailymail.co.uk/money/markets/article-3754172/Housebuilder-Persimmon-sees-profits-rise-29-despite-Brexit-worries.html

AND STILL THEY CAN’T AFFORD TO BUILD AFFORDABLE HOUSING!

See an example of the scandal here:

One of the most controversial developments in Cambridge is set to make millions of pounds more in profit than forecast when the original builder avoided hitting the city council’s affordable housing target, the News can reveal.

We have uncovered the vast discrepancy at the Grand Central development at Rustat Road, between what previous developer Persimmon told the council it was likely to sell the homes for and what current builder Weston Homes is actually selling them for. … “

http://www.cambridge-news.co.uk/revealed-cambridge-development-just-6-social/story-29044199-detail/story.html