Crest Nicholson has been building new homes for over four decades and is firmly established as a leading developer with a passion for not just building homes, but creating vibrant sustainable communities. Our mission is to improve the quality of life for individuals and communities, both now and in the future, by providing better homes, work places, retail and leisure spaces. Most importantly, we place our customers at the heart of everything we do.

Our development portfolio ranges from contemporary city centre apartments and townhouses to traditional detached family homes and complex regeneration schemes. The success of long term partnership developments such as Park Central in Birmingham, as well as innovative low carbon developments including One Brighton, ICON and Avante, underline the Group's determination to lead the industry in its quest to create innovative development solutions which positively contribute towards achieving a sustainable future.

In today's low carbon world, it is our unrivalled vision and values in design, customer service, innovation and environmental stewardship that set us apart. Responding to the challenges posed by climate change and urban renewal forms an integral part of our approach, positioning us well to lead in the complex and challenging process of delivering sustainable communities.

I am particularly proud of the recognition that we have achieved for our contribution to the built environment. To be bestowed with The Queens Award for Enterprise in Sustainable Development category in 2007 was a real honour. This 5 year accolade is proof of our continued commitment to producing high quality developments that champion the very best principles in sustainability and design. It demonstrates our unquestionable passion in delivering communities where people genuinely want to live, work and play.

Ultimately however, the greatest accolade comes directly from our purchasers and nine out of ten have said that they would be happy to recommend Crest Nicholson to a friend. While both the House Builders Federation and our own independent consultants verify that our customer satisfaction is improving year on year, we will not become complacent. Our priority is to continue to build on this track record and deliver our customers with a home and level of service that continues to surpass expectations.

http://www.crestnicholson.com/

You don't reckon the 360p target by HSBC is achievable?

More concerned for a ftse drop ?

StockMarketWire.com
Crest Nicholson saw strong growth in the first half of the financial year, with 810 housing legal completions, representing a 9% increase over the 746 achieved in the six months to 30 April 2012.

Open-market legal completions at 699 (2012: 537) were up 30%, while the number of affordable units reaching legal completion, at 111, was significantly lower than the 209 achieved in 2012.

This is in line with management expectations and it is expected that the full-year split between open-market and affordable units will be broadly similar to prior years. It adds: "On the commercial front, the new Waitrose supermarket that we have built on our Oakgrove site at Milton Keynes is due to open shortly and the team have exchanged contracts with Morrisons to build a foodstore at our Centenary Quay development in Southampton." Chief executive Stephen Stone said: "Crest has made a strong start to its first two months as a listed company, with the business performing in line with the Board's expectations.

"Signs of improved access to mortgages together with the initiatives that the Government has put in place should serve to stimulate activity in the industry and assist people in purchasing a new home.

"The sites that we have acquired and new outlets that we have opened will continue to support our growth objectives."

StockMarketWire.com
HSBC has downgraded its recommendation on home builder Crest Nicholson (LON:CRST) to "neutral" from "overweight" on valuation grounds, in a research note to investors on Wednesday . The shares have increased in value by 29 per cent since the beginning of the year and are up 8 per cent in the past month. The City broker has left its price target unchanged at 360 pence per share.

18 June 2013
Interim results for the six months ending 30 April 2012

Over the long-term, there is a lot to be said for 'tough love.' That certainly holds true for home builder Crest Nicholson. At the height of the financial crisis it was forced to write down the value of its land holdings and projects to their fair-value, unlike competitors such as Bovis Homes. That means the firm has all that much more to gain as the market recovers. Despite that Crest trades at a notable discount to Bovis Homes. As well, nearly all its land bank is in Southern England, where prices are traditionally stronger. It has been a hard old slog. But when Stephen Stone, Crest Nicholson’s Chief Executive, reveals maiden half-year results on Tuesday, expect talk of strong house prices and rising construction rates. He has the crisis to thank, says The Sunday Times´s Danny Fortson.


http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20966312

Half Yearly Report

Performance Highlights - all figures pre-exceptional

· Housing legal completions up 9% at 810 (2012: 746); open-market legal completions up 30% at 699 (2012: 537).
· Sales per outlet week up 18% at 0.77 (2012: 0.65)
· Housing revenue up 30% on 2012 reflecting our growing number of sales outlets and higher open market Average Selling Prices (ASP)
· Gross profit margins down slightly at 27.8% (2012: 28.3%); operating profit margins up 2.4% at 18.1% (2012: 15.7%).
· Profit after tax up 75% to £21.9m (2012: £12.5m).
· Strong balance sheet position; net debt/equity ratio of 2.4% (2012: 27.5%).
· 1,019 plots added to the short-term land bank, primarily in the South East and London, at good gross margins.
· Approximately 1,500 plots added to the Strategic land bank across seven sites
· Forward sales at mid-June of £330.9m (2012: £220.5m), 50.1% ahead of prior year with 88% of this year's forecast secured (2012: 82%).
· Crest Nicholson set to enter the FTSE 250 index following market close on 21st June 2013.

Commenting on today's statement, Stephen Stone, Chief Executive, said:

"I am delighted to announce excellent results from Crest Nicholson for the first half of the year. This represents a strong start to our return as a listed company. Purchaser demand for high quality homes, on well designed developments, remains robust and signs of improved access to mortgages together with the initiatives that the Government has put in place should help to stimulate activity in the industry and assist people in purchasing a new home. With this improving sentiment and the opportunities available to the business, the Board remains confident in the outturn for the year."

19 Jun HSBC 360.00 Neutral

A buy in this weeks IC - Recovering mortgage market boosts Crest.

The group promised investors on flotation that it would expand production to 2,500
homes within three to four years(it built 1882 homes last year) . With the recovering mortgage market and Help to Buy stimulus unveiled in the Budget, Mr Stone (chief exec) expects the target to be hit ''sooner rather than later''. Broker Numis expects full-year pre-tax profits of £80.2m (up from £62.1m in 2012), giving EPS of 24.3p. The group will start paying dividends based on these results.

Crest Nicholson Holdings: HSBC Holdings takes target price from 360p to 395p, upgrading to overweight.

8 Jul Barclays... 370.00 Overweight


Crest Nicholson Holdings PLC (CRST:LSE) set a new high during today's trading session when it reached 359.50. Since the IPO on Feb 13, 2013, the share price is up 38.82%.

These housebuilders keep on rising.

The housebuilding sector is all about ‘location, location, location’. But that could prove to be Crest Nicholson’s (LON:CRST) Achilles heel in the eyes of Jefferies’ analysts.

They conceded that the housebuilder has the most attractively valued landbank in the south of England, putting it in a sweet spot in the market as the housing market in the north languishes.

But this could backfire further down the line.

“The housing mantra is "location, location, location" rather than "land, land, land"; in the longer term, limited exposure to the midlands and the north may be its Achilles heel,” they claimed.

The broker kicks off coverage with a ‘hold’ tip and 375p target price.



http://www.proactiveinvestors.co.uk/columns/broker-spotlight/13585/broker-round-up-sports-direct-sabmiller-adidas-shell-crest-nicholson-13585.html

Interim Management Statement

RNS


RNS Number : 0902O

Crest Nicholson Holdings PLC

17 September 2013






17th September 2013

Crest Nicholson Holdings plc

Interim Management Statement



Crest Nicholson Holdings plc (Crest Nicholson) today issues its Interim Management Statement for the period from 1st May 2013 to 6th September 2013. The results for the full financial year ending 31st October 2013 are expected to be announced on Tuesday 28th January 2014.



Current trading



Open-market reservation rates over the period since 1st May (excluding reservations taken under Build to Rent) have been 0.95 per Outlet Week, up 46% on the 0.65 rate for the equivalent period in 2012 and 23% on the 0.77 rate achieved in the first half of this year.



The sales environment had been improving since the start of the calendar year, supported initially by 'Funding for Lending' feeding through into lower mortgage rates. The introduction of the 'Help to Buy' scheme in the Budget has provided a further stimulus to activity.



The benefits of the increase in reservation rates in the period will primarily come through from FY2014 onwards. Forward sales for 2014 and beyond total £145m, a 92% increase on the £75m achieved this time last year. At 6th September, reservations had been secured in respect of all planned FY2013 legal completions.



Outlet numbers have continued to grow, in line with expectations, with the business operating from an average number of 46 outlets in the period (2012: 39).



Cancellation rates in the period have averaged 10.5% (2012: 15.8%) reflecting the improvement in trading conditions.



Higher levels of reservations have brought some initial pressures to bear on elements of our supply chain. As expected, we have seen some cost increases in certain building materials and also some delivery delays. As our suppliers and sub-contractors adjust to the new levels of activity, we anticipate that such pressures will abate and we remain on track to deliver our planned production outputs for 2013.



Stephen Stone, Chief Executive commented "The increased volume of reservations confirms the strong desire for home ownership that exists in this country and it is good to see that aspiration becoming a reality for many. As we celebrate our 50th anniversary, Crest Nicholson is delighted to be playing its part in increasing housing supply and is working with its partners to deliver much needed new homes."





Land and planning



In the year to date, 18 additional sites have been purchased, with a total of 1,854 plots secured, as the business seeks broadly to replace the land that we are using in delivering our short and medium term forecasts. On our larger sites, opportunities to dual-outlet with significantly different product offerings are being pursued, improving asset utilisation and taking advantage of favourable market conditions.



At 6th September, all plots required to meet our FY2014 forecasts have been secured with almost all required planning consents already in place.



The land market remains stable and opportunities continue to be secured at or above our hurdle rates for gross margin and return on capital. We have maintained our focus on prime locations within our Southern area of operation, which have tended to perform best through the cycle.



The business continues to engage with government agencies and others in examining ways to bring forward an institutional Private Rental Sector ('PRS') and has now drawn down £3.5million of funding under the Government's 'Build to Rent' scheme in connection with the delivery of 102 PRS units at Centenary Quay in Southampton.



On planning, the group welcomes the National Planning Practice Guidance online resource which followed the Taylor Review published in December 2012. As housing demand rises, it is important that new sites and additional phases of existing projects are able to start construction within a reasonable time frame and hence that government continues to reduce the regulatory burden on the industry. The group will continue to engage actively with government and local authorities to support and encourage a more flexible and responsive approach to planning.



Financial position



The group continues to benefit from the strong equity base established through the February IPO and operates with moderate levels of borrowings, in respect of which there is sufficient headroom to meet our operational requirements.



Outlook



Our excellent reservation performance in the period underpins the Board's confidence that the business is likely to experience good trading conditions for the next few years, supported in part by government efforts to stimulate the housing market.



In due course, broader economic recovery and the rising consumer confidence and prosperity that it brings should help to sustain activity.



With a strong forward sales position, the focus of the business in the near term will be on bringing through product delivery in a cost-efficient and timely manner. Selective land acquisitions and on-going Strategic land activities are designed to ensure that new sales outlets are brought forward to increase outlet breadth.



The continuation of currently favourable market dynamics is likely to result in the volume aspirations of the group, set out at the time of our February IPO, being broadly met by the end of next year and to establish a platform for further profitable growth.

Housebuilders Galliford Try and Crest Nicholson reveal highest ever annual profits suggesting property market really is on the march

By Huge Duncan Economics Correspondent

PUBLISHED: 11:21, 18 September 2013 | UPDATED: 11:22, 18 September 2013
[headerlink]

Housebuilders Galliford Try and Crest Nicholson yesterday provided further evidence that the property market is on the march.


Galliford reported record annual profits – up 17 per cent to £74.1million – as government schemes to boost mortgage lending such as Help to Buy stimulated demand.

Revenues dipped 2 per cent to £1.5billion, however, as the number of newly-built homes it sold fell from 3,039 to 2,932 due to a focus on only the most lucrative developments in the south of England.


Booming market: Crest Nicholson CEO Stephen Stone [pictured] said the growth in reservations reflects the strong desire for home ownership in the UK


The company raised the full-year dividend from 30p a share to 37p a share but the stock fell 16p to 1048p.

Galliford chief executive Greg Fitzgerald said: 'We have made excellent progress as a group in the financial year and delivered a record profit before tax. We have also significantly increased the full-year dividend reflecting the board’s confidence in the future.


'Housebuilding has delivered another very strong year of trading. This has been achieved in a disciplined manner following a doubling in size of the business in the preceding three years.

'Our deliberate investment in high return land opportunities, particularly in the South and South East, together with a greater focus on margin performance and efficiency gains and an improving market means we are well placed to deliver further good growth.'

Rival builder Crest Nicholson said reservations have jumped 46 per cent since the start of May as more house-hunters get their hands on mortgages with the help of Funding for Lending and Help to Buy.

It also reported forward sales for 2014 and beyond of £145million – a 92 per cent increase on the £75million achieved last year.

Chief executive Stephen Stone said: 'The increased volume of reservations confirms the strong desire for home ownership that exists in this country and it is good to see that aspiration becoming a reality for many.'

Crest shares fell 3.7p to 333.7p.

Daily Telegraph - Finance section - Business news and markets: as it happened September 18, 2013

13.30 While they're all eating, let's take a look at the stock market.

House-builder Crest Nicholson is a notable faller, down 1.8pc after its two largest investors - Varde Management and Deutsche Bank - sold a 13.5pc stake in the FTSE 250 company for £108.6m. Both shareholders cut their holdings in Crest when it made its return to the stock market in February. Following the initial public offering they were bound by share lock-up agreements, which expired at the end of August.

They have now offloaded a further 33.9m shares at 320p apiece, bringing Varde's stake in Crest down to 20.1pc and Deutsche's to 9.1pc.

Crest Nicholson Holdings: Barclays increases target price from 390p to 422.8p and maintains an overweight rating.

6 Dec Jefferies... 387.00 Hold

Final Results

RNS


Performance highlights - all figures pre-exceptional

Sales

· Housing legal completions up 15% at 2,172 (2012:1,882); open-market legal completions up 35% at 1,806 (2012: 1,342)

· Sales per outlet week up 34% at 0.90 (2012: 0.67)

· Forward sales at mid-January of £329.5m (2012: £218.7m), 51% ahead of prior year with 51% of this year's forecast secured (2012: 45%)

Results

· Turnover at £525.7m, up 29%

· Operating profit margins up to 18.5% (2012: 18.0%)

· Profit before tax up 40%

· Strong balance sheet position; net cash at year end of £42.5m (2012: net debt £30.3m)

· Return on average Capital Employed of 24.1% (2012: 20.7%)

Land bank

· 1,895 plots added to the short-term land bank, across 19 sites; Short-term land bank now 7.5 years

· Continued focus on strategic land, with net 1,700 plots added to the Strategic land bank across 10 sites

· Over 3,000 plots allocated for development in local plans




http://www.moneyam.com/action/news/showArticle?id=4745835

Questor share tip: Crest Nicholson
Telegraph
By Anna White | Telegraph – 4 hours ago
.

Riding the crest of the housebuilder wave

Questor says Hold

Housebuilder Crest Nicholson is firmly on the rebound after an eventful few years. Something of a boomerang business, it delisted in 2007 but returned to public life on the London Stock Exchange (Other OTC: LDNXF - news) last February.

Since the 2013 flotation, the shares have built up a strong following as they rose from the 220p IPO price to hit a high of 399.4p in January, and closed yesterday 356p as the company declared a consensus-beating full-year dividend of 6.5p.

For the year to October 31, Crest reported revenues of £526m, up 20pc on the previous year, as it benefited from the Government’s shared equity scheme.

= Housing market flurry =

The Help to Buy programme, in combination with improving consumer confidence, and easing lending conditions, boosted the housing market last year. Demand for new build properties surged last year, even gathering pace in the last quarter, traditionally a quiet three months for housebuilders. This appetite for a new home means that Crest’s forward order book stands 51pc higher by value than during 2012.

Clearly, the Crest is performing well back in the public markets, reporting profit before tax up 40pc at £86.8m.

With a large land bank and a strong balance sheet with net cash, the company should show strong volume growth and easily achieve the target at the time of its flotation of building 2,500 homes by 2015/16. At the current pace, this point could be achieved as early as 2014 without the need for investment.

When combined with the company’s healthy pipeline of developments more than 3,000 plots allocated in local plans this points to profit growth.

Underpinning the industry as a whole is the UK’s housing supply crisis. With only 120,000 homes being built a year but a need for closer to 240,000 and a buoyant property market, you would expect this to be the year of the housebuilder.

= Industry concerns =

However, there are external factors that could stifle growth.

Firstly, Business Secretary Vince Cable has called for an end to the boost being delivered by Help to Buy, with the Lib Dem MP accusing the Government’s scheme of creating a short term bounce.

Then there are the wider issues caused by recovery after a collapse, with a construction industry and supply chain that contracted because of the financial crash struggling to meet demand as work levels pick up, creating pressure on resources.

During the recession there was an exodus of bricklayers and plasterers from the industry, as these craftsmen put their skills to use in other trades. Housebuilders were looking to the supposed influx of Romanians and Bulgarians this month, as the EU immigration laws relaxed, to compensate for this and to keep a lid on wage inflation. However, these workers from Eastern Europe have yet to arrive in the predicted droves.

Demand for raw materials fell during the recession and there are now concerns that the UK will not be allocated enough of the required building supplies from manufacturers in India and Africa to cope with the uptick.

Although the Government is looking to release more state-owned land, there’s still not enough for volume housebuilders and the industry feels a more efficient planning approval process is needed to address the UK’s housing shortage.

But these external factors are longer term concerns for the second half of 2014 / 2015, so Questor recommends investors should continue to ride the Crest Nicholson wave for now.

Hold.