Crest Nicholson hailed "strong" progress in its return to the stock market today after Britain's property market bounce helped it to a 76% surge in profits.
The Surrey-based firm, which is on course for the FTSE 250 Index after making its stock market comeback four months ago, posted underlying pre-tax profits of £28.1 million for the six months to April 30 thanks to a pick up in buyer demand and a 3.4% hike in property prices.
Crest added that the Government's Help to Buy scheme had boosted interest from homebuyers in the latest vote of support for the initiative.
Forward sales as of mid-June are 50% higher than a year earlier, at £330.9 million, and the group said it had already secured 88% of this year's forecast.
The figures mark a robust return as a listed company after Crest's flotation in February, which valued the company at £636 million.
Stephen Stone, chief executive of Crest, hailed an "excellent" set of interim results.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article