Cruden more than doubles profit as it pivots to affordable housing partnerships development

Cruden has posted increased profit as its move away from tendered construction contracts towards land-led partnership development.

The Scottish firm, in its accounts for the year to 31 March, reported pre-tax profit of £2.4m, more than double the £917,000 posted for the previous year.

Its turnover fell 15%, from £132.3m to £112.3m. The firm however said this was due to its strategic shift towards building its own affordable housing projects in collaboration with other organisations, rather than through traditional construction contracts, as its “refocused pipeline” commences.

The move is intended to “rebalance risk transfer and significantly reduce and eliminate the group’s reliance on competitively tendered projects”. Cruden is also ”moving away from complex projects with significant density”.

As of 31 March 2025, the group only has two remaining legacy tendered construction contracts, one of which was completed and fully handed over in September 2025.

It said: “In overall terms, the group has been successful in its pivot to focusing only on land-led construction opportunities and partnership working projects in the affordable housing sector.

“This has not yet fully translated into the desired levels of turnover… as the construction market is still challenged by delays to new project starts arising from cost pressures, and funding constraints, and from resource and procedural challenges around obtaining the required planning and technical consents.”

Cruden sold 121 homes in the year, up from 51 the previous year. Its average sales price in the year decreased from £402,000 to £347,000 which it said was due to the mix of units.