Housebuilder: Truss mini-budget bruised consumer confidence – and cost us sales June 8, 2023 Property developer Crest Nicholson has reported shrinking sales amid “rapidly” falling consumer confidence and rising borrowing costs, following the September mini-budget. The firm said its revenue fell by more than a fifth to £282.7 million in the six months to the end of April, from £364.3 million the prior year. The decline reflected economic uncertainty [...]
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 [...]
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 [...]
Crest Nicholson hikes profit expectations as UK housing market remains ‘resilient’ March 23, 2021 Crest Nicholson has hiked its profit expectations for the year, saying the UK housing market has remained “resilient” to the impact of Covid-19. The UK housebuilder said profit before tax for the year ended 31 October 2021 is expected to be around £85m, up from previous expectations of £74.3m. Crest Nicholson’s share price jumped 4.1 [...]
Crest Nicholson reinstates dividend despite swinging to a loss January 26, 2021 UK housebuilder Crest Nicholson swung to a loss last year due to the impact of the coronavirus pandemic, but said it will reinstate its dividend later this year. The company reported a loss after tax of £10.7m compared to profit of £82.5m in the previous year. Revenue fell from £1.09bn to £677.9m, and the firm [...]
Crest Nicholson shares soar after housebuilder hikes profit expectations November 3, 2020 Shares in Crest Nicholson soared this morning after the housebuilder hiked its profit forecast following strong sales after coronavirus lockdown restrictions were lifted. The FTSE 250 firm said adjusted profit before tax is expected to be significantly ahead of the previous forecast of £37.9m, at around £45m. The London-listed developer’s share price surged more than [...]
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 [...]
Housebuilders boosted by HSBC stock upgrade February 19, 2020 Shares in housebuilding firms jumped today after HSBC upgraded its view on the stocks, saying the decisive general election result “unleashed pent-up demand” in activity. Berkeley’s share price rose 3.2 per cent to an all-time high this morning after HSBC upgraded the stock from “hold” to “buy”. The bank now has “buy” ratings on all [...]