A house builder with several projects in Kent has seen pre-tax profits grow by more than 50% as the construction industry continues to thrive after the six-year economic downturn.

Profits before tax at Persimmon grew by 57% in the first six months of this year to £212.9m.

The company – which has developments in Ashford, Manston and Strood, plus Chatham, Iwade and Sevenoaks through its Hilreed Homes brand – also saw completions grow by 28% to 6,408.

Its average selling price increased 4.3% to £186,970 across the UK, compared with the same period last year.

It comes after smaller Kent-based rival Bovis Homes reported a growth of 166% in its pre-tax profits in the first half of 2014 to £49.4m.

Persimmon Homes South East managing director Andrew Shankster said: “Persimmon has produced another strong performance, taking advantage of the current market opportunities to deliver growth whilst strengthening the financial position of the business.

“We have been encouraged by our private sale reservation rate since July 1, which is currently running 9% ahead of the same period last year.

“Visitors to our sites continue to run ahead of last year’s levels and cancellation rates remain at the lowest levels we have experienced over the last few years.”

Mr Shankster welcomed measures which have tightened up mortgage lending, which he said is supporting the construction industry.

He said: “We welcome the disciplined lending by mortgage providers which, together with the keen appetite of first-time buyers and existing homeowners to buy newly-built properties, is providing the opportunity for the industry to increase construction.

“We welcome the disciplined lending by mortgage providers which, together with the keen appetite of first-time buyers and existing homeowners to buy newly-built properties, is providing the opportunity for the industry to increase construction..." - Persimmon South East's Andrew Shankster

“We will continue to offer a broad mix of house types for sale at affordable prices tailored to our customer preferences in our region.”

The company is also investing in new land, having acquired 14,251 plots in the first half of the year, bringing its landbank – with planning permission – to 82,250 plots.

Mr Shankster added: “These outlets will ensure the group is able to deliver new homes that local communities are keen to acquire.

“We remain confident of Persimmon’s continued successful development and the focus now is on getting people into their homes for Christmas.

“There’s still plenty of time to reserve and complete in time to spend Christmas with your family in a brand new home.

“As a region, we are delighted with the group’s performance and I would like to thank my own team for their dedication and commitment.

“Our apprentices and trainees are also enjoying meeting the challenges created by increased activity and are providing a valuable contribution by focusing on the basics of good housebuilding.”