Housebuilders Crest Nicholson and McCarthy & Stone saw profits tumble last year as Brexit and exceptional items took their toll on the pair’s bottom line. In a statement, the firm said: “During the second half of the year, there was increased volatility in the number of site visits, reservations and completions, and elevated cancellation rates as customers continued to cite concerns over political and economic uncertainty stemming from Brexit.”. He admitted: “Currently, we are inconsistent with many aspects of our operations, often doing things differently from site to site and from one division to another. Meanwhile, specialist retirement housebuilder McCarthy & Stone said pre-tax profit also slumped by 25% to £43.4m in the 14 months to October 2019.
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Tuesday, January 28
Date: 28 Jan 20 Time: 11:40
Date: 28 Jan 20 Time: 11:18
Profits at Crest and McCarthy & Stone tumble
Date: 28 Jan 20 Time: 08:19
Crest Nicholson posts lower profit, outlook for sector encouraging
Crest Nicholson posts lower profit, outlook for sector encouraging | NASDAQ. Jan 28 (Reuters) - Crest Nicholson Holdings CRST.Lon Tuesday reported a drop in annual pretax profit, but said the outcome of Prime Minister Boris Johnson's sweeping victory should provide some support for the sector in the near term. Crest Nicholson, which operates in Southern half of England, was hit by weaker consumer confidence during the year which led to Britons buying fewer houses. The company, under new Chief Executive Officer Peter Trustcott, is looking to shore up its business and return to profit growth after it suffered a Brexit-driven drop in prices.
Date: 28 Jan 20 Time: 08:11
LONDON BRIEFING: Crest Nicholson Holds Payout...
LONDON BRIEFING: Crest Nicholson Holds Payout Despite 40% Profit Drop. (Alliance News) - UK housebuilder Crest Nicholson on Tuesday expressed disappointment as it ... (Alliance News) - UK housebuilder Crest Nicholson on Tuesday expressed disappointment as it reported a fall in annual earnings. For the year ended October 31, pretax profit slumped 39% to GBP102.7 million from GBP168.7 million in financial 2018, and revenue slipped 3% to GBP1.08 billion from GBP1.12 billion. It said it would pay 33.0p again in financial 2020 and then raise its payout in line with UK inflation thereafter. "We believe the decisive political outcome should provide support for the sector in the near term. While it is too early to form a view on the impact for 2020 trading we are seeing some encouraging signs. Footfall and visitor numbers on our developments have increased and traffic on our website is up," said Chief Executive Officer Peter Truscott.
Date: 28 Jan 20 Time: 07:57
Crest Nicholson posts ‘disappointing’ results after building fewer homes
The FTSE 250 company said revenue slipped 3% to £1.1 billion for the year to October 31, after its number of completed homes sank 4%. Crest told investors that it was “disappointed” with its financial results for 2019, as it was pressed down by weak consumer confidence. Chief executive Peter Truscott, who joined Crest in September after leaving rival Galliford Try, said the disappointing trading performance highlighted a need for the company to “evolve and change”. Crest held firm on its financial forecasts for the current financial year, predicting another slight dip in profits, as it forecast adjusted pre-tax profits between £110 million and £120 million. However, the firm said it has seen “encouraging signs” in the sector in recent months and believes last month’s election has provided a more stable backdrop.
Thursday, December 19
Date: 19 Dec 19 Time: 07:39
Crest Nicholson appoints new COO - Sharecast.com
Crest Nicholson has appointed Tom Nicholson as chief operating officer with effect from 1 January. The housebuilder said Nicholson has had an extensive career in the industry including roles with Trafalgar House Group, Berkeley Group and Try Homes. After joining Try Homes, he spent 23 years at what became Linden Homes, part of the Galliford Try Group, where he was managing director and latterly division chairman before joining Crest Nicholson in May 2019. Chairman Iain Ferguson said: "We are delighted to be welcoming Tom onto our board and are confident that he will be a key contributor to our business, as we implement and deliver our revised strategy into 2020 and beyond."
Thursday, December 05
Date: 05 Dec 19 Time: 07:05
Crest Nicholson (LON:CRST) Price Target Raised to GBX 412 at Liberum Capital – Trent Times
Crest Nicholson (LON:CRST) had its price target lifted by equities research analysts at Liberum Capital from GBX 379 ($4.95) to GBX 412 ($5.38) in a report issued on Thursday, ThisIsMoney.Co.Uk reports. Finally, HSBC cut their price objective on shares of Crest Nicholson from GBX 540 ($7.06) to GBX 500 ($6.53) and set a “buy” rating on the stock in a research report on Friday, November 22nd. The stock currently has a consensus rating of “Hold” and a consensus target price of GBX 383.18 ($5.01). Crest Nicholson has a 52-week low of GBX 305.20 ($3.99) and a 52-week high of GBX 437.20 ($5.71).
Thursday, November 07
Date: 07 Nov 19 Time: 11:17
Crest Nicholson Holdings PLC (LON:CRST) Receives Consensus Rating of “Hold” from Analysts – Slater Sentinel
Crest Nicholson Holdings PLC (LON:CRST) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is GBX 387.70 ($5.07). Finally, Jefferies Financial Group reiterated a “hold” rating and set a GBX 407 ($5.32) price objective (up previously from GBX 396 ($5.17)) on shares of Crest Nicholson in a report on Friday, September 27th.
Sunday, November 03
Date: 03 Nov 19 Time: 04:06
Crest Nicholson (LON:CRST) Price Target Cut to GBX 355
Jefferies Financial Group reiterated a hold rating and issued a GBX 407 ($5.32) price objective (up previously from GBX 396 ($5.17)) on shares of Crest Nicholson in a research report on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Crest Nicholson has a consensus rating of Hold and an average target price of GBX 387.55 ($5.06). Crest Nicholson has a one year low of GBX 305.20 ($3.99) and a one year high of GBX 437.20 ($5.71).
Thursday, October 31
Date: 31 Oct 19 Time: 09:39
Weak earnings hit FTSE 100, Crest warning drags homebuilders
Key Stats & Ratios
|Quaterly Earnings Growth||-11.60%|
|Quaterly Revenue Growth||7.30%|
|Revenue per share||4.57|