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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Crest Nicholson Holdings plc    CRST   GB00B8VZXT93

CREST NICHOLSON HOLDINGS PLC

(CRST)
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Crest Nicholson : posts lower profit, outlook for sector encouraging

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01/28/2020 | 03:20am EST

Crest Nicholson Holdings on 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. Problems have been further compounded by rising costs that have pressured margins.

The company said on Tuesday that it saw some "encouraging signs" and that traffic and visitors at its sites had increased.

Shares are up 1.1% to 445.2 pence at 0816 GMT.

Analysts believe that Johnson's win in December has boosted the mood for consumers and could encourage housing demand - pushing up home prices and helping housebuilder margins.

Crest also took an exceptional charge of 18.4 million pounds ($24.18 million) in the current financial year for a change in government guidance on combustible materials.

Crest delivered 2,912 homes during the year ended Oct. 31, while reporting a 3% fall in revenue to 1.09 billion pounds.

Pretax profit fell 39% to 102.7 million pounds.

The company reiterated its profit expectations for 2020.

(Reporting by Samantha Machado in Bengaluru; Editing by Bernard Orr)

Stocks mentioned in the article
ChangeLast1st jan.
CREST NICHOLSON HOLDINGS PLC 0.39% 518 Delayed Quote.19.50%
EURO / BRITISH POUND (EUR/GBP) -0.24% 0.83532 Delayed Quote.-0.95%
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Financials (GBP)
Sales 2020 1 001 M
EBIT 2020 126 M
Net income 2020 93,2 M
Finance 2020 58,1 M
Yield 2020 6,41%
P/E ratio 2020 14,1x
P/E ratio 2021 12,1x
EV / Sales2020 1,27x
EV / Sales2021 1,21x
Capitalization 1 325 M
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Technical analysis trends CREST NICHOLSON HOLDINGS P
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 477,67  GBp
Last Close Price 516,00  GBp
Spread / Highest target 27,9%
Spread / Average Target -7,43%
Spread / Lowest Target -28,7%
EPS Revisions
Managers
NameTitle
Peter Martin Truscott Chief Executive Officer
Iain G. T. Ferguson Non-Executive Chairman
Tom Marshall Nicholson Chief Operating Officer
Duncan John Cooper Group Finance Director
Sharon Emma Flood Independent Non-Executive Director
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