A LEIGH firm has helped its parent company build record half year profits.

Persimmon plc, parent company of Leigh-based Persimmon Homes (North West) Ltd made a net pre-tax profit of £48.4 million in the six months to June 30, 2000 - up 36% on the 1999 figure of £35.7million.

The 37% increase in earnings to 19.0p per share continues the firm's excellent record of earnings enhancements over the long term.

The increased profit was achieved from 3,483 legal completions, marginally above the 3.354 homes completed in the first half of 1999.

However, operating profit increased by 33% to £54.5 million (1999: £41.1million), and operating margin to 15% (1999: 12.7%).

The return on average capital employed increased to 21.5% (June1999: 17.6%) and the company continues to have a strong balance sheet with gearing of 24%.

In June Persimmon further strengthened its financial position by a new £150 million revolving credit facility for five years.

Chairman, Duncan Davidson, said: "This is the result of sound management and dedication to quality. I thank all the team for their hard work and congratulate them on these record results."

The interim dividend will be increased by 11.4% to 3.9p per share, payable on October 27 to shareholders on the register on September 15 2000. A scrip dividend alternative is offered.