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Crest Nicholson - Capacity being increased

March 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.

Government schemes such as Help To Buy and an improvement in mortgage availability has been the elixir supporting a remarkable year for house builder Crest Nicholson, whose final results easily beat forecasts.For the year ended 31 October turnover rose 29% to £526m, while pretax profit increased 40% to £86.8m. Eps was 29.4p (2012: 28.5p) while net cash was £42.5m (2012: net debt: £30.3m.) All key performance indicators were excellent, with housing completions rising 15% to 2,172 (2102: 1,882), while sales per outlet per week rose 34% to 0.90. The combination of higher turnover and a 9% rise in average selling prices to £250,000 (2012: £230,000), which reflects a changing product mix as we ...

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Crest Nicholson - Capacity being increased

March 2014

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