Barratt and Crest report mixed market conditions

Barratt Developments and Crest Nicholson have issued updates to the market. Barratt reported a strong start to the financial year but Crest has issued a profit warning, announcing a new strategy to combat difficulties it is experiencing in the market. Reporting on the period from July 1 to October 14 2018, Barratt said that the

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Housebuilder Awards Finalists

The finalists of The Housebuilder Awards 2018 have been revealed with Crest Nicholson and McCarthy & Stone standing out. Crest Nicholson has a total of five finalists in five categories, including in Best Regeneration Initiative, Best Community and both categories of Best Design. McCarthy & Stone features four times in three categories – Best Marketing,

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Good sales but cost challenges for Crest

Crest Nicholson and Bellway have reported good sales performances during the first half of the year, but Crest experienced dented margins thanks to continuing build cost inflation. During the six months to April 30 2018, Crest said its operating profit margin fell to 17.2% against the 19.1% achieved over the equivalent period the previous year.

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Crest expects robust market to remain

Reporting on the housebuilder’s half year results, Stone said that “strong levels of employment, low interest rates and good mortgage access – including through the Help to Buy Scheme – should all contribute to a sustainable new build housing market.” Crest Nicholson said it was set to deliver revenue growth in its full year to

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Strong performances continue for Crest Nicholson and Kier!

Crest Nicholson and Kier Group have continued to enjoy good performances, with Crest reporting good sales across its areas of operation. Issuing an update at Crest’s AGM last week, the company’s’ Chairman William Rucker said that the trading environment had “remained generally robust”. Rucker said that total forward sales were 5% ahead of the same

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“Landmark” year for Crest

Crest Nicholson has seen a “landmark” year, achieving its sales target of £1 billion for 2016. Reporting on its full year results for the year ending October 31 2016, the housebuilder’s pre-tax profit rose 27% to £195 million against the equivalent period in 2015. Operating profit margins also saw a rise from 20.3% in 2015

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Strong growth for Crest and McCarthy & Stone

Crest Nicholson and McCarthy & Stone have both reported strong growth during their respective financial years. Crest is set to report revenues for the year of around £1 billion. The housebuilder said that its anticipated revenue level was in line with its stated target “and a landmark achievement for the business”. Issuing a trading update

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Interest rate cut welcomed but Housebuilders

The housebuilding industry has welcomed the Bank of England’s decision to cut UK interest rates from 0.5% to 0.25%, stating that the move would aid both housebuilders and home owners. Peter Andrew, deputy chairman of the Home Builders Federation, said: “Demand for new build homes remains strong and sales rates have been solid since the

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Target of £1 billion of revenue for Crest

Crest Nicholson remains set to reach its intended target of £1 billion of revenues for its full year to October 31 2016, it reported this month. Crest has seen its unit completions rise 7% to 1,206 against the equivalent 6 month period in 2015. Its sales rate per outlet per week, including private rented sector

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4,000 homes a year is the build target for Crest!

After announcing their results for the year ending October 2015, Crest Nicholson said today that they remain on course to deliver on their dual targets of 4,000 homes and £1.4 billion of revenue by 2019. In the year the firm increased volumes by 8% to 2,725 homes and saw sales revenue up 26% to £804.8

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