13th May 2020 10:49
(Alliance News) - Crest Nicholson Holdings PLC on Wednesday said it is planning to restart its construction operations next week amid easing lockdown measures in the UK.
The Surrey, UK-headquartered housebuilding company said it has developed a detailed set of working practices and protocols so that its construction sites can operate safely and in line with the latest guidance from government, public health authorities and the Construction Leadership Council.
From Monday next week, Crest Nicholson said it will start to remobilise activity on its sites in a "phased and controlled" manner.
During the lockdown period, the company said it continued to take moderate numbers of new sales and have also been able to process legal completions.
Crest Nicholson said it also continued to take proactive steps to protect its balance sheet and prioritise cash flow. As at half year, on April 30, net debt was GBP93.6 million compared to GBP68.3 million a year prior and the company said it had GBP255.2 million cash at bank.
The company said it will report its interim results on June 24.
Crest Nicholson shares were trading 4.8% higher in London on Wednesday at 240.00 pence each.
By Evelina Grecenko; [email protected]
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