Property developer Crest Nicholson has revealed it is on target to deliver 4,000 new homes by 2019.

In its half-year results for the six months ended 30 April 2016, the house builder reported £408.1 million of revenue for 2016, a 22% increase from last year (£333.2m).

In addition, housing legal completions were up 7% at 1,206 (2015: 1,124), while open market unit completions, excluding Private Rental Sector (PRS), was up 9% at 909 (2015: 834).


Overall, housing revenue stood at £384m, 26% more than last year.

Chief Executive Stephen Stone said the business was now "well positioned" to achieve its target of £1bn of revenue in 2016.

"Whilst the debate about the forthcoming referendum on UK membership of the European Union continues to dominate the headlines and the Board notes the risk of business disruption in the event of a vote to leave, purchaser demand for new homes remains strong and Crest Nicholson has delivered a 9% increase in open market completions in the first half of this year," he said.

"We continue to grow our Private Rented Sector offering and have delivered 173 Private Rented Sector units in the first half, on schemes in Bath, Bristol and Southampton."

The company also aims to achieve £1.4bn of revenue by 2019.

(LM/MH)