25th Mar 2026 11:24
(Alliance News) - Crest Nicholson Holdings PLC on Wednesday saw its shares soar as it reiterated its guidance thanks to improving sales following a weak second half of 2025.
It also added that it is yet to see any material impact to its trading from the macroeconomic developments of the last few weeks, but "is alert to the potential risks and will respond accordingly to any changes in the trading environment".
Crest Nicholson shares were up 11% to 111.11 pence each on Wednesday morning in London.
The Surrey, England-based housebuilder said that it has seen sustained improvement in the sales rate from mid-January. It swung to a GBP2.9 million profit in the last financial year ending in October from a GBP145.8 million loss as it parted ways with substantial one-off fire remediation costs. However, revenue declined 1.2% to GBP610.8 million from GBP618.2 million due to a housing market it then defined as subdued.
In the 10-week period to 20 March, the open market sales rate excluding bulk was 0.64, Crest Nicholson said. It was 0.61 in the financial year ending in October. The open market sales rate is the ratio between sales and active development sites in a week, and means that the housebuilder was close to sell two houses for every three developments.
Customer enquiries levels were also "encouraging", the company said, in a mix that left guidance for the full-year unchanged. The company expects adjusted pretax profit in the range between GBP32 million and GBP40 million this financial year, up from GBP26.5 million in 2025
"We have made strong progress repositioning the business from a volume housebuilder to a mid-premium, customer-focused developer...Progress has continued in reshaping the land bank with one further land disposal from a larger site so far in this financial year. Operationally, improved processes and governance are driving greater efficiency with the divisional restructuring announced in November now completed," the company said.
The company will report its half-year results to April 30 on June 11.
By Martin Miraglia, Alliance News reporter
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