Persimmon upgrades guidance as revenue rises

Home builder Persimmon upgraded its annual profit guidance after it grew revenue in 2017 by 9%, underpinned by higher completion rates and selling prices.

Revenue for the year through December grew to £3.42bn, up from £3.14bn.

"We anticipate our pre-tax profits for the year will be modestly ahead of market consensus," the company said.

Legal completion volumes increased by 6% to 16,043 and the group's average selling price increased by 3% to around £213,300 per home.