Crest Nicholson has posted a pre-tax profit of £36.3m for the first half of the year, compared to a £51.2m loss for the same period in 2020.

The house builder, in its interim results for the six months to 30 April, was buoyed by a 38% increase in completions to 1,0171 over the same period. Revenue increased from £240m to £324.5m over the same period.

The company is now projecting adjusted pre-tax profit for the whole year to be “at least” £100m with its order book 93% covered as of 18 June.

Crest is currently in the midst of a turnaround strategy after a difficult few years during which it issued several profit warnings. Peter Truscott, formerly of Galliford Try, was brought in as chief executive in September 2019 to improve the situation.