FINANCE: Pretax profit soared by 34% to £116.7m for British house builder Crest Nicholson last year.
The company recorded a pretax profit of £116.7m for the year to 31 October 2014, compared with £86.8m the previous year.
During the same period turnover increased by 21% to £636.3m.
Sales were helped by average selling prices for houses rising by 15% to £287,000. Forward sales at mid-January this year stood at of £399.8m (2013: £329.5m).
Chief executive Stephen Stone said: “Crest Nicholson enters 2015 in a strong position and we are encouraged by the strong start to the year. Improved access to mortgages and real income growth underpins our confidence in the market and in generating high-quality returns.”
