Crest Nicholson Holdings PLC   

Crest Nicholson Holdings PLC (LSE: CRST) is an FTSE 250 listed, United Kingdom-based residential housebuilder operating across England. The Company operates across the market, creating homes for private sale, homes, and private rental properties. The Company has seven housebuilding divisions: southwest, south, Chiltern, Midlands, East Anglia, eastern, and Yorkshire.

FY24 Trading Update (Released on 20 November 2024)

1. Revenue Performance: Crest Nicholson delivered FY24 revenue of £1.73 billion, in line with its previous guidance. This performance highlights the company’s ability to navigate challenging market conditions effectively, supported by its strategic focus on operational efficiency and maintaining a balanced approach to its development portfolio.

2. Profitability Amid Challenges: The company reported an adjusted profit before tax of £50 million, reflecting resilience in a year marked by affordability challenges and a slowdown in housing market completions. This figure underscores the effectiveness of cost management strategies and operational adjustments.

3. Forward Sales and Market Position: Crest Nicholson concluded FY24 with forward sales valued at £604 million. This metric demonstrates the company’s ability to sustain buyer interest and secure future revenue despite market headwinds. Additionally, the company completed 1,990 units during the year, highlighting its consistent delivery capability.

4. Dividend Declaration: A total dividend of 14.5 pence per share was declared, reflecting the company’s commitment to providing returns to shareholders. This decision underscores Crest Nicholson’s confidence in its financial stability and its long-term strategy.

5. Strategic Focus and Adaptability: The company emphasized its focus on optimizing the land portfolio, enhancing affordability through efficient delivery, and addressing market challenges. These measures aim to strengthen its competitive position while ensuring sustained performance in evolving economic conditions

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Crest Nicholson Holdings PLC (LSE: CRST)  was trading at the current market price of GBX 172.00 (as of 04 December 2024,  10:20 AM GMT) 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 04 December 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.