Crest Nicholson Holdings (GB:CRST) has released an update.
Crest Nicholson Holdings PLC reported a dip in revenue to £257.5m and a statutory loss after tax of £23.4m for the first half of 2024, down from a profit in the previous year, amid a challenging market with lower home completions and sales per outlet. Despite the downturn, the company has reduced its net debt more than expected and is maintaining balance sheet strength, with an improved land portfolio set to enhance future margins. The company remains committed to operational efficiency and customer service, expecting to return to a five-star rating and with adjusted profit before tax projected between £22m and £29m for the full year.
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