Crest Nicholson’s half-year results for the six months ended 30 April 2015 show housing revenue up 29% on 2014, reflecting growth in sales volume and price.
Profit after tax increased by 51% to £46.7m, compared with £30.9m in 2014.
Housing legal completions rose by 3% to 1,124 compared with 1,091 last year.
The company’s three-year plan is to drive revenue growth towards £1bn by October 2016. It also hopes to grow towards 4,000 homes and £1.4bn revenue by 2019.
Stephen Stone, chief executive of Crest Nicholson, said: “Sustained demand for new homes has underpinned strong sales rates and Crest Nicholson has delivered an 8% increase in open-market completions in the first half of this year. Improving economic circumstances and a clear outcome in the general election provide a good operating backdrop for the sector and give us confidence to increase our volume target.”
