Crest Nicholson Announces Revised Date for 2024 Results Amid Increased Fire Remediation Costs

An announcement from Crest Nicholson Holdings ( (GB:CRST) ) is now available.

Crest Nicholson Holdings PLC has postponed its preliminary financial results announcement for the fiscal year ending October 31, 2024, to February 4, 2025, due to auditors requiring more time to review fire remediation provisions. The expected provision for fire remediation costs has increased significantly to approximately £245m-£255m, from £145m at half-year, as the company prepares for the completion of its remediation program by FY29. This adjustment and the clear provision for costs are intended to provide a stable foundation for its new management team to focus on strategic priorities.

More about Crest Nicholson Holdings

Crest Nicholson Holdings PLC operates in the construction industry, primarily focusing on residential development. The company’s market focus includes building high-quality homes and optimizing its land portfolio to deliver exceptional customer service.

YTD Price Performance: -7.40%

Average Trading Volume: 941,241

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £401.8M

See more data about CRST stock on TipRanks’ Stock Analysis page.