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Sat May 25 2024

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Crest Nicholson sees growing demand for quality homes

27 Jun 12 Housebuilder Crest Nicholson has reported a 6% rise in first half revenue and a 21% rise in operating profits.

It has also turned around last year’s heavy pre-tax loss in the first half to a healthy profit this time.

Revenue for the six months to 30 April 2012 was £138.6m (2011 H1: £130.6m). Operating profit was £21.7m (2011 H1: £17.9m). Profit before tax was £16.0m (2011 H1: £21.5m loss).

Housing legal completions up 33% at 746 (2011 H1: 560).

Chief executive Stephen Stone said: “We have continued to benefit from good customer demand for high quality homes, within well-conceived master plans, in prime locations in London and the South. In an uncertain macroeconomic environment, our ability to deliver strong revenue and margin growth is a testimony to the business and those who work for it."

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