Crest Nicholson has posted a strong set of results for the 2005 year end. The company has increased turnover by 11% to £714 million, and operating profits are up 2%. While its social housing sales were down 13% to 621 units, private sector sales rose 3% to 1,865. "Our strong performance in 2005 demonstrates the resilience and flexibilty of our business mix in challenging market conditions," said chief executive Stephen Stone. "Our strong current forward order position and legal completions to date represent more than 50% of our targeted housing sales for 2006. While is is too early to predict the outcome for 2006, early signs of an improving market, particularly in the south east, make us cautiously optimistic." Crest is planning to build around 2,800 units this year, and is presently carrying out business improvements designed to save £10 million in costs over three years.