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The housebuilder posted revenue of 拢241m in the half-year to 20 April 2014, up from 拢192m for the same period the previous year.

Pre-tax profit rose 36% to 拢38m (2013 half year: 拢28m), while operating profit stood at 拢45m, up 29% from 拢35m over the previous half year.

The firm鈥檚 legal completions for the period stood at 1,091, up 35% on the same period the previous year (2013: 810), while forward sales rose 5% to 拢347m (2013: 拢331m)

The firm said that over the period it added 784 units to its short-term land bank across nine sites, bringing the short-term portfolio to 16,118 units (2013:17,094).

It added that its plans to establish a new division in the north-west Home Counties were now  鈥渨ell advanced鈥�, with the new division providing 鈥渁 platform for the next stage of business growth鈥�.

鈥淭he addition of a further management team will allow the business to pursue further opportunities in an area which is very familiar to Crest Nicholson and further extend our presence in this key geography,鈥� the firm said.

鈥淎 selection of existing portfolio sites will transfer into the new division to pump-prime the operation and appointments to key positions have already been made.

鈥淚nitiating a new division in this manner enables the business to benefit swiftly from the additional management capacity and ensure an early contribution to the incremental overhead.鈥�

Stephen Stone, chief executive (pictured), added: 鈥淪trong volume and earnings growth characterise excellent results from Crest Nicholson for the first half of the year.

鈥淒emand for well-designed and sensitively delivered product remains high and the business is continuing to flourish in a good housing market, helping many purchasers fulfil their ambitions for home ownership.

鈥淲ith an improving economic backdrop underpinning the strength of the sector and the opportunities available to the business, the Board remains confident in the outturn for the year.鈥�