SCOTTISH housebuilder Cruden has increased turnover and more than doubled pre-tax profit and exceptional items for the year ended 31 March 2026.
Total turnover, including Cruden’s share of joint ventures, increased from £112 million to £134 million, while profit before tax and exceptional items rose from £2.8 million to £6.1 million.
The firm said the results reflect improved performance across core housebuilding activities following the company’s focus on increased private development and partnership-based affordable housing and a move away from price-led tendered construction.
Private home sales increased by more than 20% to 148 homes, while the average selling price was £311,000, compared with £347,000, which Cruden explained reflects the mix of homes sold and a greater proportion of ‘value-focused’ family homes.
Net assets during the period increased from £42.6 million to £48.7 million, and net cash reserves rose to £21.3 million, from £18.4 million.
Chief executive Fraser Lynes said, “These results demonstrate the progress we are making and, importantly, show that our strategy is translating into stronger financial and operational performance. We have been very deliberate about how we want to grow Cruden. We are increasing our private housebuilding activity while focusing our affordable housing business on land-led developments and genuine partnerships where our development expertise can add real value.
“We are now seeing the benefits of that approach through increased home sales, improved profitability and a strong pipeline that gives us visibility over the next phase of growth. There is still a great deal to deliver, but we have entered the new financial year with real momentum and a clear sense of direction.”
Cruden currently has a development pipeline of more than 3,500 homes, spanning private and affordable housing. At Granton Waterfront in north Edinburgh, the business is contributing to one of Scotland’s most significant regeneration programmes, delivering over 800 homes in the first phase, while The Village at Dalmarnock builds on Cruden’s longstanding involvement in the area following its completion of the award-winning Athletes’ Village for the Glasgow 2014 Commonwealth Games.
New developments include Neukhaven Green in Pittenweem and Stonefield Brae in Neilston.
Despite economic uncertainty, interest rate pressures and challenges around planning and public sector funding, Cruden said the fundamental shortage of housing across Scotland continues to underpin long-term demand. The business added that it intends to progressively increase the number of private homes it sells while continuing to grow its affordable housing activities and pursue opportunities across different tenures, including build-to-rent.
Fraser Lynes added, “Scotland needs significantly more homes across every tenure, and Cruden has both the capability and ambition to play an important part in delivering them. We have more than 80 years of heritage behind us, but our focus is firmly on what comes next. With a strong balance sheet, an increasingly diverse pipeline and a highly experienced team, we are well placed to build on our legacy while embracing our next stage of growth.
“The progress made this year gives us confidence, but our job now is execution, getting developments started, delivering for our customers and partners and continuing to build a strong and sustainable Cruden for the long term.”
