January 9, 2018 / 7:10 AM / a year ago

UK builder Persimmon says 2017 profit will be ahead of expectations

LONDON, Jan 9 (Reuters) - Britain’s second-biggest housebuilder Persimmon said 2017 profits will be slightly ahead of expectations as its revenue rose 9 percent to 3.42 billion pounds ($4.64 billion) after it built more homes.

“We anticipate our pre-tax profits for the year will be modestly ahead of market consensus,” the firm said on Tuesday.

It is expected to post a roughly 20 percent increase in full-year pre-tax profit to 957 million pounds, according to a Thomson Reuters poll of 16 analysts.

In December, the firm said its chairman and the head of its pay committee would quit after they failed to curb an incentive plan that could see its top management make a profit of more than 200 million pounds on share options. ​ ($1 = 0.7373 pounds) (Reporting by Costas Pitas; editing by Kate Holton)

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