Persimmon has said it will start work on 50 sites by the end of 2009 in a cautiously optimistic trading update this week

In the six months to 30 June it completed 4,006 units (2008: 5,501) and turnover was 拢625m (拢998m).

It said volume and turnover figures were showing 鈥渋ncreasing improvement鈥� compared with the lows in the first half of 2008, which were about a third down on 2007.

It also reduced its debt level from 拢906 in June last year to 拢495m this year and said it remains on track to hit its 拢450m target by December.

The statement added: 鈥淲e remain cautious until mortgage availability improves further and employment prospects stabilise.鈥�

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