Updates

Crest Nicholson

January 2023

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.

Crest Nicolson said FY22 pretax profit is expected to be within the previously guided range of £135m to £140m. Positives are continued expansion of operating margins in line with guidance as it maintained discipline on overheads. While it’s seen weaker trading in recent weeks, reflecting the increased economic uncertainty, forward sales as at 11 November 2022 were 2,038 units for a gross developed value of £526.2m (down from £623.9m GDV a year ago), with “good visibility of sales pipeline for FY23.”Crest has made good progress on new site acquisitions with 2,771 plots approved in FY22 at a gross margin of 25.5%. Investec forecasts unchanged eps of 41.4p for FY’22 but reflecting Crest’s pared back growth plans, the brok ...

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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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