Crest chief executive Stephen Stone said a 9% rise in house completions and a 3.4% increase in selling price helped to push pre-tax profits before one-off items to £28.1m, up from £16m for the same period last year.

He added:  “The business is responding to improved sales rates by increasing its production levels, although there is inevitably a lead time before higher sales translate fully into increased legal completions.

“Provided lenders and planning authorities also play their part, we would expect to see volume growth coming through more fully by the end of the calendar year.”

During the period, a further 1,019 units were added to the short term land bank across 10 sites, increasing Crest’s outlet breadth and bringing the short-term land bank to 17,094 units.

Nearly two-thirds of the land bank is situated in London and the South East of England, economic prospects appear to be strongest.

A further 32% are in the South West of England, predominantly at prime locations in Bristol, Bath and at a recently converted strategic site at Tadpole Farm, Swindon.

Legal completions rose 9% to 810 units during the six months to 30 April, with open market completions driving the growth as they surged 30% to 700.

Sales rates rose 18% to an average of 0.77 per outlet per week against 2012’s 0.65.

Forward sales at mid-June were up by half at £330.9m with 88% of this year’s forecast secured.

Stone said: “This represents a strong start to our return as a listed company.”

He added that purchaser demand for high quality homes, on well designed developments remained robust.

“With this improving sentiment and the opportunities available to the business, the Board remains confident in the outturn for the year.”