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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Crest Nicholson - 2016 eps upgraded from 43.3p to 52.2p

August 2014

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:
  • 338p
A softening in valuations of house builders due to fears over interest rate rises and potential Bank of England caps on high loan-to-value mortgages should not detract from the positive medium term picture for housebuilders, which is perfectly encapsulated by forecast busting results from Crest Nicholson. Helped by its focus on the more prosperous South, revenues, pretax profit and eps rose 26%, 37% and 32% respectively to £241.1m, £38.4m and 12.3p, helped by a 0.9% rise in gross margins to 28.7%. Net debt was £60.6m (net debt / equity gearing just 12.5%), while it had undrawn credit facilities of £85m and cash of £89m.Growth came through a rise in average selling prices and 35% increase in housing legal completions to 1,091 ...

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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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