<p>Crest Nicholson has upgraded its full-year profit expectations in response to good trading, although in its half year it suffered a pre-tax loss of <span>£52.5 million with its commitments to building safety.</span></p> <p><span>Reporting on the six months to April 30 2022, the housebuilder said that its pre-tax loss for the period, compared to its pre-tax profit of £36.3 million during the equivalent period of last year, was a result of an exceptional pre-tax charge of £105 million, including its commitments to the government’s <a href="https://www.house-builder.co.uk/news/housebuilders-sign-govs-building-safety-pledge">building safety pledge.</a> Upon stating its intention to sign the pledge in April, Crest estimated the exceptional charge to be between £80 million to £120 million.</span></p> <p><span>But Crest said that for its full year, it expected its adjusted pre-tax profit “to be in the range of” £135</span> <span>million</span> to 140 million.</p> <p><span>During its half year, Crest’s revenue climbed <span class="agz">12.3% to £364.3 million against HY2021, “reflecting a strong operating performance and underlying strength of the housing market</span>”. </span></p> <p><span class="agz"><span>Its completions rose 7.8% to 1,096, with its private average selling price lifting </span></span><span>2.8% to £409,000. Crest said housing demand had remained “strong” for the first half despite the resumption of stamp duty, with sales per outlet …