Updates

Crest Nicholson - Another housebuilder on basement PE of 5.7

August 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Interims from housebuilder Crest Nicholson were as expected with revenues rising 22% to £408m and pretax profit and eps increasing 25% to £72.6m and 22.9p, respectively. Growth came thanks to a 7% increase in housing legal completions at 1,206 while sales-per-outlet-per-week increased 4% to 1.06. Average selling prices rose 13% to £343,000 while excluding private rental sales (PRS) it rose 20% to £372,000. Gross margins fell 0.5% to 27.1% reflecting project mix and performance, although a reduction in administrative expenses meant operating margins were unchanged at 19.1%.The group bought 10 new sites with planning for 1,147 units and a gross development value of £472m and has a similar number i ...

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Crest Nicholson (March 2024)

Crest Nicholson (January 2024)

Crest Nicholson (January 2023)

Crest Nicholson (September 2022)

Crest Nicholson (May 2022)

Crest Nicholson (January 2022)

Crest Nicholson (August 2021)

Crest Nicholson - Shares soar over £4 (May 2021)

Crest Nicholson (March 2021)

Crest Nicholson - House builder smashes forecast (December 2020)

Crest Nicholson - Cluster director buying highlights deep value (November 2020)

Crest Nicholson (March 2018)

Crest Nicholson (July 2017)

Crest Nicholson - 41% eps growth forecast between FY'17 - FY'19 (April 2017)

Crest Nicholson - Prospective PE is just 6.4 (January 2017)

Crest Nicholson (March 2016)

Crest Nicholson - New target to increase home sales from 2,530 to 4,000 by 2019 (August 2015)

Crest Nicholson - Shares hit all time high (March 2015)

Crest Nicholson - 2016 eps upgraded from 43.3p to 52.2p (August 2014)

Crest Nicholson - Capacity being increased (March 2014)

Crest Nicholson - Better than expected reservation rates (November 2013)

Crest Nicholson - Forward sales 50% ahead of prior year (August 2013)

Crest Nicholson (June 2013)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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