A HOUSEBUILDER says it is reaping the rewards of a turnaround plan after posting strong financial results.

Persimmon, which has offices in Bowburn, near Durham City, and Newcastle, says pre-tax profits lifted 31 per cent to £272.8m for the six months to June 30.

Revenues were also higher at £1.33bn, as sales increased to 6,855 and the average selling price rose four per cent to £194,378.

The company, which has its headquarters in York, says its successes come as it continues to implement a ten-year plan, launched in 2012.

The programme has seen the firm invest £2.17bn in land and open 607 new sites, delivering nearly 42,000 homes.

Its progress has also seen it open a new office in Stockton to increase its presence on Teesside.

Jeff Fairburn, Persimmon chief executive, said: "The group has traded well in the first half and continues to take advantage of the current market opportunities to deliver sustainable growth.

“We have now entered the traditionally slower summer weeks for the market.

“Our private sale reservation rate since 1 July is currently five per cent ahead of the same period last year, which is a reflection of the continuation of healthy customer demand.”

Last year, The Northern Echo revealed Persimmon was launching a scheme to deliver hundreds of jobs for ex-forces staff.

The company is re-training former military personnel to work on its sites, and hopes to create up to 500 posts a year.

Known as the Combat to Construction programme, the venture is supported by Darlington training provider Nordic Focus Training Group.

It has already seen scores of people sign up for courses to take on roles such as bricklayers and joiners, with some now working on sites and new recruits joining the programme every four weeks.