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Crest Nicholson says will build more homes as H1 profits surge

Reuters - UK Focus

LONDON, June 16 (Reuters) - British housebuilder Crest (BSE: CREST.BO - news) Nicholson said on Tuesday that it would increase the number of homes its planned to build over the coming years after posting a 52 percent rise in pretax profit in the first half of its reporting year.

The company, which built over 2,530 homes in its 2014 financial year in London, south Wales and southern and eastern England, said housing completions rose 3 percent in the six months to the end of April.

The builder said it would now build more homes than it previously expected, due to the improving economic climate in Britain and an unexpectedly clear result in May's national election, which saw Prime Minister David Cameron's Conservatives secure an overall majority.

The firm said it would now aim to build up to 4,000 homes by 2019, up from its previously stated target of 3,500. (Reporting By Costas Pitas, Editing by Paul Sandle)