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UK housebuilder Crest Nicholson saw its stock drop after issuing a profit warning and further cutting full-year earnings guidance. The downgrade follows a difficult trading period that impacted construction output and sales.
This article provides a summary of the main points and significant disclosures from Crest Nicholson's first-half earnings call.
Housebuilder says ‘macro-uncertainty’ fuelled by war in the Middle East will push up cost pressures and damage consumer confidence
Crest Nicholson Holdings Plc reversed previous guidance for a modest profit this year and now expects to make a loss thanks to a subdued housing market and lackluster pricing.
UK housebuilder Crest Nicholson has delayed its financial results and is seeking leniency from lenders following a profit warning last month, causing its shares to plummet.
Crest Nicholson has reported a loss, citing a challenging housing market and announcing measures to reduce land buying and slow activity at new sites.
The housebuilder said it had seen a slowdown in new inquiries and visitor levels since its last update in March.