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Crest Nicholson - Forward sales 50% ahead of prior year

August 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CRST
  • Price:
  • 357p
Shares in housebuilder Crest Nicholson, which we added to our Trader Portfolio at 276p in March, have quickly gained 81p after strong results this month. These showed revenues rising 39% to £192m while pretax profit and eps gained 76% and 66%, respectively to £28.1m and 9.3p.  Helped by the £50m new money from the float net debt was just £10m, (with net debt / equity)  just 2.4%. The well-publicised Government schemes to stimulate the mortgage market such as “help to buy” have led to a 9% increase in housing sale completions to 810. Volume gains alongside increases in average selling prices meant operating margins rose 2.4% to 18.1%. During the period, a further 1,019 units were ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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