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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Crest Nicholson

September 2022

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:
  • 278p
A welcome forecast upgrade for housebuilder, Crest Nicholson, which accompanied its interim results by upgrading its full year guidance to around £135-£140m. This reflects continued strength of demand and an excellent order book, covering 96% of expected volumes.Revenues went up 12% to £364.3m, with completions increasing by 7.8% at 1,096 units and sales per outlet week climbing from 0.69 to 0.72. However, the real surprise was the increase in operating profit margin from 12.3% in H1 ’21 to 15.0%, with input cost inflation well managed, driving a 45% increase in operating profit to £52.5m. Crest has (and continues to) exit several challenging legacy projects, which together with a new house type, which will be in 75% private houses ...

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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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