Sales target boost for builder Crest Nicholson

Crest Nicholson has boosted sales targets on the back of“robust”demandfornew homes as the housebuilder said pre-tax profit rose 6 per cent to £207 million for the year to end-october.

Sales including joint ventures jumped 7 per cent to just shy of £1.07 billion, compared with £1bn a year earlier.

Statutory revenue grew 5 per cent to £1.04bn, as the company delivered 2,935 new homes – up 2.3 per cent – with an average selling price of £388,000. Crest Nicholson said it was continuing to strengthen the business with an increase in outlets, including a new division in the Midlands.

The company has also reduced its exposure to Central London where sales have slowed.