LONDON (MarketWatch) -- U.K. house builder Persimmon said Thursday that its results for 2008 will be in line with market expectations after it completed the sale of 10,202 units in the year at an average selling price of 172,000 pounds ($260,000), representing a turnover of 1.76 billion pounds. Persimmon said it has reduced total borrowings to around 600 million pounds from 906 million pounds at the end of June and has also begun discussions with its lenders over the planned refinancing of its credit facilities.

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