Crest Nicholson says profit to be at ‘lower end’ of expectations due to higher proportion of affordable homes

By Carl Brown2024-11-20T07:51:00

Housebuilder pledges to focus more on private sales as it trades out of ‘low margin’ sites

Crest Nicholson has said its annual profit will be at the lower end of its expectations, as its chief executive pledged a “year of transition” in 2025 to focus more on private sales.

The housebuilder, in an update for the year to 31 October, said its adjusted pre-tax will be towards the bottom of its expected £22m to £29m range.

It said this is due to a higher proportion of affordable homes delivered, and also due to the fact it is continuing to “trade out of low margin sites”

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