<p><span class="ae"><span>Crest Nicholson’s year end pre-tax profit is set to be “significantly ahead of consensus”, it said today (November 3).</span></span></p> <p><span class="ae"><span>Issuing a trading update for the 12 months to October 31 2020, the housebuilder said its profit would be at the “upper end” of the previously guided range of £35 million to </span></span><span class="aj"><span>£45 million, and notably greater than the market consensus of £37.9 million.</span></span></p> <p><span class="aj"><span>Crest saw “good trading” during the summer across all its divisions, with its reservations slightly improved on its pre-spring lockdown level. “</span></span><span class="ae"><span>The release of pent-up demand, whether due to customers putting off moving because of Brexit uncertainty or subsequent Covid-19 disruption, and the benefits of the stamp duty holiday, have supported near-term confidence levels in the housing market,” the firm’s statement read.</span></span></p> <p><span class="ae"><span>Its average outlets during the financial year rose slightly to </span></span><span class="aj"><span>63, from FY19’s 59, in line with its strategy. Forward sales as of October 31 were up at 2,289 units and £480.5 million gross development value (October 31 2019: 2,013 units and £378 million GDV).</span></span></p> <p><span class="aj"><span>Crest noted evidence of changing customer attitudes and preferences in response to Covid-19, with a change to the balance of office and …