Crest Nicholson

Crest Nicholson reported an adjusted operating loss of £11.9m for the half-year, compared with an adjusted operating profit of £11.9m a year earlier, and cut its full-year EBIT forecast to the lower end of the £5–15m range. Revenue fell to £197.6m (previous year £249.5m), completed private homes declined from 739 to 584, and the adjusted operating margin collapsed to -6.0%. Negotiations over a waiver of loan covenants with the lending syndicate are not yet concluded; temporary waivers have been extended until 30 September 2026. The combination of the earnings fall, downgrade and unresolved loan issues pushed the share close to its 52-week low. » More on de.investing.com

Crest Nicholson reported an adjusted profit before tax of £26.5m for fiscal year 2025 (+30.5%) on slightly lower revenue of £610.8m. Gross margin improved to 14.0%, overheads fell and adjusted earnings per share rose to 7.8p, leading to a dividend increase to 3.1p. The company continues with fire-safety remediation (estimated total cost £305.3m; remaining provision £202.8m) and expects net completions of 1,100–1,200 private-market units in 2026. For FY26 Crest Nicholson forecasts an adjusted pre-tax profit of £32–40m and plans to reposition in the mid-premium housing market with Project Elevate. » More on de.investing.com

Crest Nicholson expects adjusted pre-tax profit for the year to be at the low end or slightly below its prior £28m–£38m range, citing subdued summer sales and uncertainty over potential tax changes ahead of the upcoming budget. The housebuilder will close one divisional office and cut about 50 roles while trimming its landbank and has completed 1,691 homes in the past year. Management says market conditions will remain challenging as it executes a multi-year turnaround plan. » More on theguardian.com