Crest Nicholson Reports Strong Profit Surge as UK Housing Market Stabilises

Crest Nicholson has delivered a robust financial performance for the first half of 2025, with adjusted pre-tax profit more than tripling to £7.9 million, compared to a loss of £30.9 million in the same period last year. The company’s statutory profit also improved significantly, reaching £9.4 million. Despite this recovery, revenue declined slightly to £249.5 million, reflecting a reduction in home completions from 788 to 739 year-on-year.

The company’s CEO, Martyn Clark, who took the helm in 2024, attributed the positive results to Crest Nicholson’s strategic focus on the mid-premium housing market. This segment, characterised by high-quality, well-designed homes in desirable locations, has proven resilient in a stabilising UK housing market. The company’s targeted approach to this market has positioned it well to capitalise on ongoing demand.

Clark noted that the broader housing market is showing signs of stabilisation, bolstered by improved affordability, stronger lender support, and a more efficient planning process. These factors have contributed to the resurgence in buyer confidence, providing a solid foundation for Crest Nicholson’s performance and outlook.

The company’s recovery follows a challenging 2024, when it reported a £143.7 million annual loss due to rising building safety costs and a decline in home completions. This period of financial strain was compounded by Bellway’s withdrawal from a potential acquisition, which led to concerns about Crest Nicholson’s financial position. However, the recent internal business review under Clark’s leadership has brought the company back on course.

Looking forward, Crest Nicholson remains focused on achieving its long-term objectives, with a clear emphasis on operational efficiency and sustained value creation through its 2029 targets. Despite lower completions in the current year, the company’s improved margins and focus on high-quality developments position it favourably for future growth.

Crest Nicholson’s stock has seen a notable 13% increase in 2025, reflecting renewed investor confidence. As the UK housing market stabilises and broader infrastructure investments, such as the £25.3 billion HS2 funding, support sector growth, Crest Nicholson is well-positioned to navigate the challenges and opportunities ahead.