Crest Nicholson shares drop as housebuilder says it will build 11 per cent fewer homes Housing Crest Nicholson has identified defects in construction on four sites completed before 2019, estimated to cost around £15m.
Crest Nicholson: ‘Persistently’ high inflation leads house builder to lower forecast for the year Crest Nicholson British house building company Crest Nicholson said it expects adjusted profit before tax for the full year to be around £50m down from previous expectations of £73.7m, after a challenging period for the sector bruised business activity. The Surrey based firm said “persistently” high inflation and rising interest rates worsened during the summer of this [...]
Crest Nicholson’s profit slumps over high-cost ‘legacy sites’ as potential £13m legal bill looms Housebuilders Crest Nicholson reported a slump in profits for 2023 amid runaway costs and has prepared for a possible legal bill of £13m over a 2021 fire, after the FTSE 100 housebuilder issued a profit warning last week.
Crest Nicholson halts opening of new division as forward sales slow November 17, 2022 British housebuilder Crest Nicholson has halted the opening of its third new division as interest rates dampen the desire to buy a home. The FTSE250 housebuilder is not the first to voice caution over rising rates, which have pushed up mortgage costs for many – deterring Brits from jumping onto the property ladder. Forward sales [...]
Crest Nicholson: Housebuilder issues profit warning over runaway costs and readies for legal bill over 2021 fire January 15, 2024 Crest Nicholson has lowered its profit guidance for the year due to issues at its Brightwells Yard regeneration scheme in Farnham.
House builder Crest Nicholson reports mixed fortunes with completions up but post-tax profits dented by uncertainty January 17, 2023 British housebuilding firm Crest Nicholson reported an uptick in revenue and completed homes last year despite continued disruption and pressure to supply chains. The firm’s revenue up until October 2022 was up 16 per cent to £913.6m, up from £786m in the pandemic-affected 2021 report. Home completions also increased by 13.6 per cent to 2,734, [...]
Bellway and Crest Nicholson shares soar as record property prices boost housebuilders June 14, 2022 Shares in Bellway and Crest Nicholson have risen this afternoon, following upbeat trading updates which signal that record house prices are filling the pockets of housebuilders. Developer Bellway has seen its sales reservations continue to climb past their pandemic heights, as demand shows little sign of slowing. The London-listed real estate firm, whose shares rose [...]
Crest Nicholson makes financial ‘turnaround’ with £70.9m post-tax profit up from 2020 losses January 19, 2022 Crest Nicholson announced its financial turnaround this morning, with profit after tax increasing to £70.9m from a £10.7m loss after tax in 2020.
Booming property market helps housebuilder Crest Nicholson swing to profit June 24, 2021 Soaring house prices and a flurry of activity in the market helped Crest Nicholson move from a loss to a profit in the six months to 30 April. Profit before tax at the housebuilder for the first half of 2021 stood at £36.3m, up from a loss of £51.2m a year earlier. Revenue in the [...]
Crest Nicholson sells stake in Surrey film studio for £45m May 14, 2021 UK property developer Crest Nicholson has sold its 50 per cent stake in a film studio joint venture for £45m. Crest Nicholson, which usually focuses on house building, said it has entered into an agreement with JV partner Aviva to sell its share of Longcross Studio in Surrey. The transaction, which is expected to complete [...]