PERSIMMON plc, parent company of Leigh-based Persimmon homes (North West) Ltd, made a record net pre-tax profit of £48.4 million in the six months to June 30.
It is the highest profit logged in any six month period in the company's history and 36 per cent up on the 1999 half year profit of £35.7 million.
Share earnings increased 37 per cent to 19p.
Chairman Duncan Davidson said the company was in a very strong position for further expansion.
He said: "The Government's new planning directive, PPG3, is creating a considerable shortage of land for development.
"Persimmon's land bank of 34,629 plots puts us in a strong position to withstand these new planning pressures.
"In addition we have increased our longer term strategic land holdings to 7,156 acres.
"We therefore have one of the strongest land banks in the industry."
The average selling price of the company's homes was £103,770 and would rise further in the current second half of the year, indicating that the housing market remained buoyant.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article