It recorded a statutory pre-tax loss of £13.5 million from a £102.7 million profit due to factors such as writing down the value of some sites and Covid costs.
Stripping out one off costs, adjusted pre-tax profits were £45.9 million, down from £121.1 million but ahead of City forecasts.
Chief executive Peter Truscott said: “Market conditions in the period following the easing of spring lockdown restrictions have been strong and consistent.”
He said the company will be monitoring how demand is when the stamp duty holiday finishes at the end of March. But he added: “The evidence so far is we are still making plenty of reservations for completions that go beyond the stamp duty deadline.”
In December the company repaid £2.5 million of furlough money it got from the government during the pandemic.
