Revalued Land Returns Persimmon to Profit
Housebulder Persimmon will start work on 90 new sites after a dramatic swing back into profit was largeloy aided by a revaluation of the land holdings.
UK’s thrid-biggest housebuilder reported 2009 pre-tax profits of £77.8 million, boosted by a £74.8 million writeback in the value of its land assets. It suffered losses of £780 million in the year of 2008.
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