Britain's second biggest housebuilder Persimmon said today it expects full-year pre-tax profit to be modestly ahead of market consensus, boosted by new projects.
The company has focused on building cheaper family houses that are less prone to tightening at the top of the UK housing market.
It said the market has continued to benefit from robust employment levels, low interest rates and a competitive mortgage market.
The company's revenue rose 4% to £3.74 billion for the year ended December 31, with sales rising 3% to 16,449 units. Average selling price also ticked up 1% in 2018.
Forward sales stood at about £1.4 billion at the end of last year, 3% higher than last year on the back of strong sales in the second half.