Persimmon margin up even further to 22.7%

Housebuilder Persimmon has raised its game yet further, according to the latest figures.
Interim financial results (six months to 30 June) reveal an operating margin of 22.7%. In the same period last year, the figure stood at 19.4%, itself a challenging achievement.
Persimmon's completions were up 9% at 6,100 homes at an average price of £171,000.
Group turnover was higher, at £1bn (£860m), with pre-tax profit bouncing higher to £210m (£150m).
Chairman Duncan Davidson said: "Persimmon is well placed to deal with whatever conditions the UK housing market may produce. Our long landbank, relatively low average selling price, and excellent record of profitable growth put us in a very competitive position.
"Our strong balance sheet gives us exciting opportunities for further expansion both organically and by acquisition if the right situations should arise."
The land bank has grown to 60,300 plots representing a five-year supply of land.
Charles Church, the premium brand division, is being expanded into new markets across the country. It achieved 500 completions at an average price of £250,000. In the same period last year, 460 homes averaged £240,000.