Crest Nicholson’s first half profits rise

British housebuilder Crest Nicholson said its first-half profit before exceptionals rose 37 per cent, reflecting “very strong” demand from home buyers.

The company said its capacity to build more houses was the most critical factor for volume growth.

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The company reported pre-tax profit of £38.4m on revenue up 26 per cent to £241.1m for the six months to April 30, and said it was confident about its prospects for the rest of the year.