Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Crest Nicholson Holdings Plc LSE:CRST London Ordinary Share GB00B8VZXT93 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  7.80 1.91% 415.60 415.60 416.40 415.60 407.60 413.00 233,347 16:29:56
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate 677.9 -13.5 -4.2 - 1,068

Crest Nicholson Holdings PLC AGM Statement

23/03/2021 7:00am

UK Regulatory (RNS & others)


Crest Nicholson (LSE:CRST)
Historical Stock Chart


From Jan 2021 to Jul 2021

Click Here for more Crest Nicholson Charts.

TIDMCRST

RNS Number : 1031T

Crest Nicholson Holdings PLC

23 March 2021

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

Crest Nicholson Holdings plc

(the 'Group' or 'Crest Nicholson')

FY21 PROFIT EXPECTATIONS INCREASED TO GBP85M

GOOD TRADING PERFORMANCE

Crest Nicholson Holdings plc is holding its Annual General Meeting ('AGM') as a closed meeting at 14:00 today. This trading update is for the period from 1 November 2020 to 22 March 2021. The Company's FY21 year end is on 31 October 2021.

Trading update

The Group has continued to deliver a good trading performance in FY21 with strong progress on all five strategic priorities. We are delighted to have been recently awarded five-star status again in last year's HBF customer satisfaction survey and are focused on delivering against our new sustainability targets.

The UK housing market has remained resilient to the impacts of COVID-19 and is set to benefit from the measures recently outlined in the Budget, including the extension of the Stamp Duty holiday and the introduction of Government-backed 95% mortgages. Our private SPOW rate in the last 8 weeks was 0.81, representing an improvement from our last reported FY20 sales rate of 0.59. As of 22 March, our order book is over 70% covered for FY21, up from 55% as reported at our preliminary results in January. This includes sales that will legally complete after the end of Help to Buy phase 1 and the Stamp Duty holiday extension, further highlighting customers' confidence in the market.

Given this good trading performance and the continued progress in implementing our strategy, the Group is pleased to announce that it now expects FY21 Adjusted Profit Before Tax to be around GBP85 million, and ahead of current consensus(1) .

The Group expects to announce its half year results for the six months ending 30 April 2021 on 23 June 2021.

Annual General Meeting

In line with the Government's current COVID-19 guidance on social distancing, the Company's AGM scheduled for 14:00 today will be held as a closed meeting at Crest House, Pyrcroft Road, Chertsey, Surrey, KT16 9GN. The AGM will be held with the minimum required quorum, including the Chairman of the meeting and a limited number of Directors and employees to conduct the business of the meeting. The usual format of the AGM will be condensed and will include only the formal business of the meeting. We are of course disappointed that our AGM has been impacted, but the health and safety of our shareholders and colleagues remains our number one priority.

For further information, please contact:

Crest Nicholson

   Jenny Matthews, Head of Investor Relations                               +44 (0) 7557 842720 
   Tulchan Communications                                                        +44 (0) 20 7353 4200 

James Macey White / Giles Kernick

(1) FY21 Adjusted Profit Before Tax consensus at GBP74.3m https://www.crestnicholson.com/investor-relations/consensus-estimates

The person responsible for arranging the release of this announcement on behalf of the Company is Kevin Maguire, General Counsel and Company Secretary.

23 March 2021

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

AGMSEIFUEEFSEFD

(END) Dow Jones Newswires

March 23, 2021 03:00 ET (07:00 GMT)

1 Year Crest Nicholson Chart

1 Year Crest Nicholson Chart

1 Month Crest Nicholson Chart

1 Month Crest Nicholson Chart
ADVFN Advertorial
Your Recent History
LSE
CRST
Crest Nich..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20210723 15:47:57