The house builder reported full-year profit expectations of £390m to 30 June 2014, up from £192m.
The results are underpinned by increased completion volumes, some of those from recently bought higher margin land, house price inflation, and on-going efficiency gains, said the firm.
Total forward sales were up by 44.7% at £1,200.5m against £829.7m in 2013 with the group saying it is responding to uplift in consumer demand.
The average property sale price rose 13% for the 2014 full year to June 30 from £194,800 to £220,000 driven by bigger homes in more attractive locations, said the firm.
Mark Clare, group chief executive said: “The market remains positive with strong demand for new homes across the country. The land we have acquired in the last five years together with our disciplined operating model is delivering a very strong business performance.”
UK and Spanish house builder Taylor Wimpey also confirmed a profit rise of 38.4% to December last year in its full-year results out yesterday. The firm completed 11,696 homes against 10,866 the previous year.
Persimmon also offered strong H1 figures with a 33% rise in total revenues to £1.2bn in its latest trading update at the start of July.
The builder commented that lenders ‘continue to support’ homebuyers following the Mortgage Market Review which has not slowed the market.
