19th May 2015 07:01
LONDON (Alliance News) - FTSE 250-listed housebuilder Crest Nicholson Holdings PLC on Tuesday said trading in the first six months of its financial year was strong, with better sales per outlet in the period and higher selling prices, giving it confidence on its outlook for the full year.
The company said sales per outlet in the six months to the end of April were 0.93, up 12% on the 0.83 seen in the same period a year earlier. Crest Nicholson is operating from 44 sales outlets at present, up from 42 a year earlier.
Unit completions rose 3% in the half-year to 1,124, with open market completions rising by 8%. Average open market selling prices for the company rose by GBP322,000 in the half-year, up by 20% on the GBP269,000 seen in the first half of its 2014 financial year, boosted by price inflation but also a better product and location mix. Forward sales at the end of April were at 1,786 units and GBP336 million in value, up by 25% and 29% respectively year-on-year.
"Purchaser appetite to secure a new home remains strong and conditions to support this level of demand are very favourable. The business is well positioned to continue to grow volumes and revenues in line with our previously stated targets and make its contribution to the delivery of the new homes that the country needs," said Chief Executive Stephen Stone.
By Sam Unsted; [email protected]; @SamUAtAlliance
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