FTSE 100 close: Mixed messages from China and housing rout sends London markets into the red August 21, 2023 London’s FTSE indexes fell amid a housing sell-off and a limited policy intervention from the Chinese central bank to boost its creaking economy. The FTSE 100 index slipped into the red to trade at 7,258.03 while the midcap FTSE 250 index fell 0.87 per cent to 17,938.91. Indexes in Paris and Frankfurt saw gains however. [...]
Crest Nicholson cuts 130 jobs as it suffers £51m loss in first half of the year June 24, 2020 Housebuilder Crest Nicholson is looking to axe around 130 jobs after reporting a £51m loss in the first half of the year. The figures Crest Nicholson suffered losses of £51m in the six months to April, compared to a £64m profit in the same period last year. Operating profit sunk 162.1 per cent from a [...]
Top housebuilders pay ‘excessive’ £16bn in dividends over 18 years October 17, 2023 Researchers from Sheffield Hallam University found the eight largest housebuilders paid shareholders 260 per cent more in 2022 than 2005.
Crest Nicholson cancels dividend and guidance on coronavirus concerns March 19, 2020 Housebuilder Crest Nicholson has cancelled payment of its final dividend and withdrawn its full-year financial guidance due to the coronavirus pandemic. The company also said it would draw down all of a £250m credit facility to help cope with the hit to its business from Covid-19 related shutdowns. Crest Nicholson said it would have £185m [...]
FTSE 100 close: London indexes close lower over fears of further rate hikes and fragile housing market June 8, 2023 London’s main indexes closed lower on Thursday as investors feared further rate hikes and yet another report pointed to a gloomy future for the UKs’ housing market. The capital’s premier index fell 0.32 per cent to 7,599.74 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Will the tail-end of summer mean more pain for the UK housing market? August 26, 2023 August, like much of the summer, has already proved a tricky month for the housing sector. Despite all major central banks slashing their rates in the wake of cooling inflation, buyer confidence still appears to be low. Last week’s Rightmove figures showed that the average price of a home fell by 1.9 per cent in [...]
Construction companies ‘treading water’ as insolvency rate reaches highest level in a decade August 24, 2023 UK construction companies are going bankrupt at a faster rate than at any point in the last decade.
Crest Nicholson blames Brexit uncertainty for profit plunge January 28, 2020 Crest Nicholson’s profit plunged 39 per cent to miss revised forecasts in a terrible year for the housebuilder, it said today. The figures Profit before tax sank from £168.7m in 2018 to £102.7m for the year ending in October. That missed guidance of between £120m and £130m, the result of last October’s profit warning. Profit [...]
Housebuilders tank on stock market with investors ‘nervous’ about mortgage rates June 20, 2022 Housebuilders lead the London Stock Exchange’s top fallers today, after the latest house price data cautioned the tightening of purse strings amid a cost of living crisis. Barratt Developments and Berkeley Group led the descent, falling a little over four per cent each. While Persimmon dove 3.7 per cent, Ashtead slipped 2.8 per cent and [...]
Thousands more homeowners to be refunded after ground rents doubled August 24, 2022 Press Association Thousands more homeowners who paid a doubled ground rent on their property will receive a refund after the competition watchdog cracked down on “unfair” leasehold practices. More than 5,000 households in the UK will be compensated after being caught in contracts that saw their ground rents double in price every 10 years. Many [...]