HOUSEBUILDER Persimmon reported further growth in revenues today as the firm announced North region boss Jeff Fairburn would take the top job in April.

Mike Farley, who has chief executive since April 2006 and has 30 years’ service, is stepping down as the firm said Persimmon said revenues grew 12 per cent to £1.7bn in 2012, helped by a 6 per cent rise in sale completions to 9,903 homes over the year and a 6 per cent rise in the average selling price to £173,400.

The company, whose brands include Charles Church and Westbury, expects further growth in demand from first-time buyers this year after securing an additional allocation of 3,000 homes under the FirstBuy scheme, which sees the Government and housebuilders stump up part of the deposit.

Persimmon also reported progress in returning operating margins to within a range of 15 per cent to 17 per cent, having lifted the key measure of profitability to 13.5 per cent in the second half of 2012, up from 10.8 per cent a year earlier.

Mr Farley, who joined Persimmon in 1983 and was responsible for developing the group's business in the Midlands before becoming chief executive, said the business was well placed to grow.

He said: "I am confident that it will become an even stronger and bigger business over the coming years."

Persimmon shares were marginally higher after today's figures came in stronger than expected.

The news comes as construction group Balfour Beatty delivered a trading update its results for the year ending December 31, which will be announced on March 7.

Balfour said 2012’s performance was “in line with expectations” and are anticipating an order book in excess of £15bn for the year end, which is broadly in line with the levels at the end of 2010 and 2011.

The firm report that difficulties in UK construction and European rail markets have seen the order book shifting from construction to professional services and support services, and from buildings to infrastructure projects, which due to the long-term nature of the contracts, meant the revenue benefit would not be seen until 2014.

The firm also completed a number of high-profile deals since the beginning of 2013, including an acquisition of US firm Subsurface Group, to expand the energy storage services business; a £150m highways maintenance contract with Wiltshire County Council; and a £321m design and construction contract to upgrade sections of the M25 in a 50/50 joint venture with Skanska.

Balfour also announced Ian Tyler will be stepping down after eight years as chief executive with deputy chief executive and chief operating officer Andrew McNaughton taking the role on March 31.

A spokesperson for the firm said: “We have been managing our business on the basis that market conditions would be tough, and this has been an effective strategy. We will take further action, both operationally and strategically where necessary, to mitigate any adverse impacts on our business.

“In the medium and long term, we are confident that our position in infrastructure markets, our focus and competitive advantage in the transportation, rail, power, water and mining verticals, and our initiatives to access growing markets such as Australia, Canada, Brazil and India will stand us in good stead as well as making the business more robust.”