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Crest Nicholson

August 2021

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:
  • 410p
Crest Nicholson has accompanied interims with a welcome upgrade in full year pretax profit guidance from £85m to £100m.The house builder posted adjusted pretax profit up from £4.5m to £6.1m on sales that rose from £240m to £324.5m in the six months ended June. H1 sales rate was 0.69 per branch per week (H1 ’20: 0.59) while average site numbers reduced from 63 to 57 reflecting some planning delays. Crest’s margins are beginning to yield the benefits of fewer of the more expensively acquired legacy sites and operational efficiencies. Management has guided to gross margin of c. 19% in FY’21 rising to over 21% in FY’22. Net cash was £130m (H1 ’20: net de ...

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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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