Large revenue boost for Persimmon

The share price of Persimmon is up today (January 8th) after the company confirmed a large rise in revenues for 2013.

In its latest financial results, the house builder stated that revenues were 21 per cent higher for the course of the year, which was towards the top end of analyst expectations.

Persimmon will publish the full set of financial results for the year later in the month, but chief executive Jeff Fairburn stated that he expects forecasts to improve, Reuters reports.

Mr Fairburn noted that he is not particularly concerned about the impact the government's Help to Buy scheme will have on the market.

He said: "We have other things that we can do to mitigate that at the end of the period … There will be more mortgage products available I believe, and ultimately we have the facility to reintroduce our own shared-equity products."

Persimmon recently announced it has started developing in the Daisy Hill area of Morley, after securing 7.5 acres of land, a few miles outside of Leeds city centre.

By 14:17 GMT, the share price of Persimmon was 0.39 per cent up for the day following the news its revenues were up during 2013.

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