Crest Nicholson issues profit warning amid ‘deteriorating’ sales

By Carl Brown2023-08-21T07:16:00

Housebuilder seeking to cut costs as it revises down its forecast for the year by 47%

Crest Nicholson has revised down its expected profit for the year by 47% as it warned that sales are ‘progressively deteriorating’.

The giant housebuilder, in a trading update issued this morning, said it is now expecting £50m of adjusted pre-tax profit for the year to 31 October.

This is down sharply on the £73.7m previously said it was expecting in its half-year report published in June.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community