<p>Crest Nicholson has reported a 16.1% rise in revenue for its full year but has put the planned opening of a third new division on hold due to “the current macroeconomic uncertainty”.</p> <p>During its year to October 31 2022, the housebuilder said its revenue grew to <span class="bgp"><span>£913.6 million from 2021’s </span></span><span class="bgk"><span>£786.6 million, reflecting its strong operating performance. </span></span></p> <p><span class="bgk"><span>Its adjusted pre-tax profit increased </span></span><span>28.5</span>% to £137.8 million, but pre-tax profit dropped <span>62.3</span>% to £<span>32.8</span> million, with the business recording a £105 million exceptional charge thanks to its commitment to the government’s building safety pledge. The figure covers its “best estimate” of the extent and future cost of remediation work.</p> <p><span>Home completions during the year increased 13.6% to 2,734</span> with open market average selling prices lifting to £388,000 from 2021’s £359,000. </p> <p><span>Crest’s sales per outlet per week (SPOW) fell to 0.60 from the previous year’s 0.80, reflecting “increased economic uncertainty” in its final quarter. And since November 1, its SPOW had been 0.35</span>, Crest said. Its average outlets at the end of its financial year were 54 against FY21’s 59.</p> <p><span>The housebuilder has been expanding into new geographies, opening an office in Yorkshire last year and recruiting …