As the bear raider Evil Knievil often says, the best time to kick a man is when he is down. Less than two months ago the housebuilder Crest Nicholson (CRST) said that its full year to October 31 profits before tax would be £70 million. Now we are told to expect £50 million. And I reckon even that is not baked in.
Ten weeks ago I observed “my continued deep yawn about the world of Crest Nicholson (CRST)” HERE. Since then shares in the housebuilder have fallen by nearly 20%, partly driven by its announcement earlier today.
I have never owned shares in Crest Nicholson (CRST), which describes itself as an (apparently) “leading residential housebuilder operating across England with an emphasis on creating well-designed, high-quality homes in sustainable communities”. You will not be surprised to see that the shares have effectively halved since 2019 and 2021 highs but, apparently, there’s an “expansion plan on track and land acquisition support future growth” angles. Bully for it…
An RNS this morning of a Strategic and Trading Update from fully-listed Crest Nicholson (CRST) brought bad news for investors: a volatile trading environment has seen full year earnings guidance chopped and although we are promised the 33p dividend is still expected to be met, it is only for the current financial year – and then only if trading conditions do not further deteriorate significantly. But there is good news for Woodford investors - well the former ones, at any rate.








