UK Construction and Law
Cruden more than doubles pre-tax profit to 6.1m pounds as the Scottish builder sells more private homes at a lower average price
By Staff Writer | 27 October 2026
Profit before tax and exceptional items rose to 6.1m pounds from 2.8m pounds in the year to 31 March 2026, on turnover of 134m pounds including joint ventures, as private sales rose to 148 homes.
Results for the year to 31 March 2026 from Cruden, the Edinburgh-based housebuilder, were reported on 26 October. Profit before tax and exceptional items more than doubled to 6.1m pounds from 2.8m pounds. Turnover, including its share of joint ventures, rose to 134m pounds from 112m pounds.
More homes, lower prices
Private home sales rose to 148 from 121 the year before. The average selling price fell to 311,000 pounds from 347,000 pounds, which the company puts down to the mix of homes sold and a larger share of value-focused family homes.
Net cash reserves rose to 21.3m pounds from 18.4m pounds, and net assets to 48.7m pounds from 42.6m pounds. A further 9m pounds of revolving credit facilities was undrawn at the year end.
A change of direction
The company is increasing private housebuilding while focusing its affordable housing work on land-led developments and partnerships. Its pipeline includes the first phase of the Granton Waterfront regeneration in Edinburgh.
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.
Fraser Lynes, Chief Executive, Cruden
Mr Lynes said the company was seeing the benefit of that approach in more home sales, improved profitability and a pipeline that gave it sight of the next phase of growth, while accepting that there was still a great deal to deliver. He added that the company's job now was execution: getting developments started and delivering for its customers and partners.
The year ahead
Cruden plans to increase private sales, expand its affordable housing delivery and pursue opportunities in build to rent. It is now targeting larger development sites that can keep it building in one location for several years, and new schemes at Pittenweem in Fife and Neilston in East Renfrewshire take it into fresh markets.
The company named planning delays, pressure on public funding and interest rates as continuing obstacles, but said that Scotland's housing shortage continued to underpin demand for new homes.
Cruden more than doubled its profit before tax and exceptional items on higher private sales, while its average selling price fell by 36,000 pounds.
For subcontractors and suppliers in Scotland, the shift towards larger private sites and land-led affordable schemes points to longer runs of work at fewer locations.