Housebuilder Crest Nicholson is anticipating a better-than-expected end to its year, with pretax profit of £101.2m.
The firm said that it had had strong sales throughout the second half of the year, with forward sales at 12 November at 2,502 units, reflecting a gross development value of £623.9m. This compares with 2,330 units and £496.6m at the same point in 2020.
Chief executive Peter Truscott said: “The group has performed strongly in the second half of the year with our full-year underlying profit before tax marginally ahead of our expectations.
“While the trading environment remains robust, it has been a challenging operational environment for our sector as we have emerged from the pandemic, with disruption to supply chains and the availability of materials.”
He added: “The group now has the necessary resources and capabilities to grow its footprint in the UK and we see this as the best way to maximise shareholder value over the medium term.”
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