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Crest Nicholson

March 2018

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:
  • 491p
It’s fair to say that worries over a steeper than expected future path for interest rates, not to mention Brexit uncertainty and wage inflation (shortage of bricklayers etc.), has placed a cloud over house builders but the continued health of the mortgage sector, housing completions and ongoing structural housing shortages provides some reassurance.Crest Nicholson, which we added to the Trader Portfolio at 276p in March ‘13, is still showing robust growth, with final results for the year ended October showing sales including joint ventures up 7% to £1,065m, pretax profit increasing 6% to £207m and eps up 7% to 65.1p. Operating margins were 20.3%, just 0.1% off the previous year. Net cash was £33m. ...

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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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