The house builder is also reaping the benefits of a transformation strategy targeting the mid-premium market led by new CEO Martyn Clark.

Results for the six months to April 30 2025 show pre-tax profits of £9.4m from a £30.9m loss last time on revenue down slightly to £249.5m from £257.5m.

Crest Nicholson set aside £132m last year for fire safety work but is now clawing back some of that cash from supply chain firms with £11.8m recovered during the period.

Structural changes continued following the closure of the London and Regeneration divisions with the merger of the Midlands and Yorkshire operations helping achieve a 6% reduction in administrative overheads.

Clark said: “We have launched a comprehensive transformation programme to drive the delivery of our new strategy repositioning Crest Nicholson firmly in the mid premium segment.

“There remains much to do, but I am pleased with the start we have made.

“I remain confident that with our experienced management team and dedicated workforce, we are well positioned to benefit as the market improves, reshape the business for long-term success.”