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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/persimmon-lifts-profits-guidance.jpg"><img class="alignnone size-full" title="Persimmon has reported a significant increase in underlying profits for 2010" src="http://londonglossy.com/wp-content/uploads/2011/01/min-persimmon-lifts-profits-guidance.jpg" alt="Persimmon has reported a significant increase in underlying profits for 2010"/></a></p>
<p>Housebuilder Persimmon has delivered a profits surprise despite the impact of the freezing weather on an already sluggish housing market.</p>
<p>The UK&#8217;s second largest housebuilder said it had achieved a significant increase in underlying profits for 2010 after turnover lifted by 10% to around £1.57 billion. This followed the completion of 9,384 sales in the year at an average price of £167,000, itself an improvement of 6%.</p>
<p>It added that underlying profits will be at the top end of market expectations, which currently range from £75 million to £96 million.</p>
<p>The improvement comes despite a lacklustre autumn sales period and after the freezing weather reduced sales activity in December.</p>
<p>However, the Charles Church owner said pricing remained stable and that margins on its forward sales of around £565 million had been maintained.</p>
<p>The company added: &#8220;It is too early in the New Year to assess the likely outcome of the forthcoming spring sales season.</p>
<p>&#8220;However, we believe that prospective purchasers who may have postponed visits to our developments due to the harsh weather conditions prior to the year end will return during the coming weeks.&#8221;</p>
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