Updates

Crest Nicholson

June 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.

House builder, Crest Nicholson has been a well-timed addition to the TMI Trader Portfolio with the shares quickly hitting a new high of 346p. This followed a very positive update covering the six months to 30 April, which showed a 9% increase in housing legal completions to 810 with open-market legal completions up 30% to 699. While the number of affordable units was 111 compared with 209 in 2012 this was in line with expectations. Market conditions in the South, where Crest has the majority of its sites, are increasingly favourable with sales rates per outlet increasing 18% to 0.77, while prices have remained firm. Meanwhile, forward sales as at 30 April rose 27% to Â£222m. The shares have gained 22% since our tip in April ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

Crest Nicholson

June 2013

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