Occupancy down at Unite Students, but demand surges at ‘elite’ universities Property Unite Students saw a slide in occupancy across its portfolio, offset by resilient demand at top elite universities. The student accommodation developer reported a 9 per cent increase in adjusted earnings to £232.3m for 2025. However, its statutory profit fell by 78 per cent due to a decline in the valuation of the property portfolio. [...]
Crest Nicholson: Profit triples as housing market recovers Property Housebuilder Crest Nicholson has reaffirmed its annual guidance as it reported a jump in half-year profit. The London-listed firm said adjusted pre-tax profit more than tripled to £7.9m in the six months ended 30 April. On a statutory basis, the company swung to a £9.4m profit after posting losses of £30.9m in 2024. Revenue declined [...]
Buy Persimmon and Taylor Wimpey ahead of Spring Statement says broker Investing Investment bank Jefferies has said investors should ‘Buy’ shares in UK housebuilders like Persimmon and Taylor Wimpey ahead of this week’s Spring Statement. Chancellor Rachel Reeves is set to present her Spring Statement later this week. Due to her commitment to just one major fiscal event, it was intended as an update rather than a [...]
Crest Nicholson: Housebuilder upbeat despite ‘tough and disappointing year’ February 4, 2025 Housebuilder Crest Nicholson has said it is “well-positioned” to meet housing demand with a new strategy, despite lower-than-expected profit this year. Revenue at the housebuilder fell six per cent for the full year to October 31, to £618m, while operating profit fell 38.4 per cent to £31.3m. Profit before tax fell 53.3 per cent year [...]
Crest Nicholson: Housebuilder pivots away from low-margin affordable homes November 20, 2024 Housebuilder Crest Nicholson has said it will trade away from low-margin sites – like affordable homes – as it looks to shore up its balance sheet after a tough year. Crest told markets this morning, it built 1,873 homes in the year ended October 31, of which 45 per cent were affordable – just under the [...]
Fears over cladding costs behind Bellway’s decision to drop Crest bid September 8, 2024 London-listed housebuilder Bellway has cited fears of Crest Nicholson's bulging bill to fix hazardous cladding as its reasoning for pulling out of its £720m takeover deal.
Mark Kleinman: Britain’s fibre infrastructure proves hard to digest August 22, 2024 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City A.M. column. Today, he looks at the UK’s altnet sector, a jilted housebuilder and Thames Water’s leaky boardroom. Britain’s fibre infrastructure proves hard to digest Time to hang up? That’s the way many investors feeling about [...]
Crest Nicholson shares slump as Bellway walks away from £720m takeover August 13, 2024 London-listed housebuilder Bellway has announced it will not make a firm offer to buy rival Crest Nicholson with the company stating that its “strong balance sheet” and land bank would be sufficient to fuel growth independently. Following the announcement Crest Nicholson’s shares slumped by just over 16 per cent to 221p per share. Bellway first [...]
Bellway: Revenue drops but housing market on the up August 9, 2024 Housebuilder Bellway’s revenue has dipped by more than £1bn as “challenging operating conditions” have continued to hit the group. The London-listed company, headquartered in Newcastle upon Tyne, brought in revenue of £2.3bn in the year ending July 30, 2024, down from just under £3.4bn in the 12 months before. Revenue fell as the number of [...]
Mark Kleinman: Is £300bn Shell merger Total summer speculation? August 1, 2024 In this week's column, Mark Kleinman tackles the Shell merger, Cineworld closure and Dan Wagner's Rezolve AI.