Housebuilder’s results to be released in July
Crest Nicholson has pushed back its half-year results as it continues talks with its lenders.
The £610m-turnover housebuilder announced last month that it was seeking a temporary covenant relaxation as a consequence of lower expected profitability, which it attributed to the crisis in the Middle East.
In an update to the market published today, the group said that discussions were “progressing constructively” and were expected to wrap up by the middle of July.
As a result, it has delayed the release of its half-year results for the period ended 30 April 2026 in order “to allow sufficient time for the orderly completion of the covenant reset process and for the Group’s auditors to complete their review processes”.
The results are now expected to be announced on 16 July 2026.
In its announcement last month, the housebuilder said the conflict in the Middle East was “contributing to the prospect of a more prolonged higher interest rate environment, renewed cost pressures and a deterioration in consumer confidence”.
It reported that while open market reservations had continued in line with improved levels seen since mid-January, there had been a reduction in new enquiries and visitor levels. It also noted a softening in sentiment among prospective land buyers.
In January, Crest Nicholson released its annual results, which showed a return to profit of £2.9m, after a “year of transition” involving cuts to divisions and redundancies.
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