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/

29 Oct JP Morgan... 400.00 Overweight

5 Dec Deutsche Bank N/A Hold

StockMarketWire.com
Crest Nicholson Holdings reports another excellent financial performance in a buoyant housing market.

The group says it is on target to achieve revenue growth of 70-80% over 2013 by 2016 and it says the volume target set at the IPO was reached well ahead of schedule with completions up 16% at 2,530 homes (2013: 2,172).

Other highlights:
· Open-market average selling prices (ASP) up 15% to £287,000

· Further expansion of operating profit margin to 20.1% (2013: 18.5%*)

· Return on capital employed of 26.0% (2013: 24.1%*) exceeding IPO commitment of 20%

· 3,730 plots added to the short-term land pipeline, across 25 sites; Short-term land pipeline now 6.8 years

· Continued focus on strategic land with 44% of the short term land pipeline strategically sourced

· Forward sales at mid-January of £399.8m (2013: £329.5m), 21% ahead of prior year with 41% of this year's forecast secured (2013: 51%)

· Intention to move dividend cover towards 2.0x over the next three years reflects strong cash generation as the business moves towards natural scale

Chief executive Stephen Stone said: "I am delighted to report that the Group has produced another excellent financial performance in a buoyant housing market in which we focused on bringing forward additional new homes to increase housing supply.

Wholehearted thanks to all our employees who have been instrumental in these results. They bring their expertise to everything we do - working effectively with partners to create masterplans, homes and places that reflect our ambition to provide our customers with high levels of quality and service, good design and sustainable outcomes.

"To name just a few highlights, I was delighted with progress at Swindon this year where we have been working with local authorities to deliver the first implementation of a Crest Nicholson Garden Village. Tadpole Garden Village is one of the first developments of its kind in the country and an exemplar of the benefits of low-density family housing. Our work there this year included speedily delivering a fully functioning temporary school which is serving local needs while we go about creating the permanent facilities.

"Meanwhile, our Oakgrove development in Milton Keynes was chosen as the location for the launch of the Labour Party's Lyons Housing Review. Being delivered through a public-private sector partnership and having achieved an average of two sales per week over the last 18 months - over 80% of them to MK postcode buyers - Oakgrove illustrates how development can meet the housing needs of an existing community.

"Sensitive design and place making can also restore pride to inner city areas and nowhere shows this better than Park Central in the heart of Birmingham. Park Central was judged Best Regeneration Project in the 2014 Housebuilder Awards and we were equally delighted to be judged Sustainable Housebuilder of the Year and Large Housebuilder of the Year in 2014."

2 Feb Deutsche Bank N/A Hold
29 Jan Deutsche Bank 355.00 Hold

Crest Nicholson Holdings PLC (CRST:LSE) set a new 52-week high during today's trading session when it reached 427.00. Over this period, the share price is up 14.46%.

Annual Financial Report
RNS
RNS Number : 0378F
Crest Nicholson Holdings PLC
16 February 2015


Crest Nicholson Holdings plc



2014 ANNUAL INTEGRATED REPORT & NOTICE OF ANNUAL GENERAL MEETING



Crest Nicholson Holdings plc ("the Company") has today published its 2014 Annual Integrated Report for the period ending 31 October 2014, and Notice of the 2015 Annual General Meeting which is to be held on 19 March 2015. Hard copy versions of these documents have been posted to shareholders who have elected to receive them in paper form.









27 January 2015


Crest Nicholson Holdings plc Annual Results Announcement for the year ended 31st October 2014



Highlights
On target to achieve revenue growth of 70-80% over 2013 by 2016
Volume target set at the IPO reached well ahead of schedule with completions up 16% at 2,530 homes (2013: 2,172)
Open-market average selling prices (ASP) up 15% to £287,000
Further expansion of operating profit margin to 20.1% (2013: 18.5%*)
Return on capital employed of 26.0% (2013: 24.1%*) exceeding IPO commitment of 20%
3,730 plots added to the short-term land pipeline, across 25 sites; Short-term land pipeline now 6.8 years
Continued focus on strategic land with 44% of the short term land pipeline strategically sourced
Forward sales at mid-January of £399.8m (2013: £329.5m), 21% ahead of prior year with 41% of this year’s forecast secured (2013: 51%)
Intention to move dividend cover towards 2.0x over the next three years reflects strong cash generation as the business moves towards natural scale




crest-nicholson-holdings-plc-annual-results-announcement-for-the-year-ended-31st-october-2014

Crest Nicholson & Persimmon downgraded by JP Morgan
StockMarketWire.com
JP Morgan Cazenove has downgraded its recommendation on sustainable housing group Crest Nicholson (LON:CRST) to 'neutral' from 'overweight', citing the share price outperformance as its main reason for doing so.

The broker pointed out that the stock has outperformed the sector by 15 per cent since the start of quarter four, leaving a rather meagre 5 per cent potential upside to its new price target of 465 pence a share (previously 400 pence).

The City heavyweight also cut its rating on Persimmon (LONPSN) to 'neutral' from 'overweight', despite saying that it still sees upside potential to earnings (on margin) and dividends at FY results on Tuesday (24 Feb).

Nevertheless, JPMC increased its price target to 1,780 pence a share from 1,650 pence.

In terms the wider UK Housebuilding sector, analysts highlighted Taylor Wimpey (16% upside potential) among the large-caps and Bovis in the small-cap space (22% upside potential) as its 'Top Picks'.



At 1:14pm:
(LON:CRST) Crest Nicholson Holdings Plc share price was -5.9p at 436.6p
(LON:PSN) Persimmon PLC share price was -24p at 1685p

StockMarketWire.com
Crest Nicholson has maintained the strong start to the Spring selling season, shareholders at the annual general meeting today will be told.

Chairman William Rucker will say: "Cumulative reservations are 766 units, from 44 outlets, representing an open-market sales rate per outlet week of 0.92. This compares with a sales rate of 0.84 for the equivalent period last yea, an increase of 10%.

"This encouraging level of sales underpins the board's confidence that the business is continuing to make good progress in delivering on its stated growth objectives."

IC- With a well stocked land bank , the company is planning to return more of the proceeds of this growth to shareholders by lowering the dividend cover ratio from the current level off 2.75 times to 2 times. Broker Peel Hunt reckons that, based on its forecasts of 70% earnings growth over the next three years, the reduction in cover will result in 130% dividend growth over the period. That means a payout of 19.2p this year,
28.3p in 2016 and 33.2p in 2017, equivalent to respective prospective yields of 4.5%, 6.6% and 7.8%.

Jefferies International lifts Crest Nicholson to buy from hold, target raised from 370p to 530p

StockMarketWire.com
Crest Nicholson's trading during the first six months has been strong, buoyed initially by revisions to the stamp duty regime and then further by increasingly competitive pricing in the mortgage market.

Sales per outlet week for the six month period to the end of April were 0.93, a 12% increase on the 0.83 achieved for the first six months of 2014.

In addition, Crest Nicholson sold 97 units at Bath Riverside to M&G Real Estate, who have purchased the homes for private rental. This transaction is intended to form part of a longer term relationship between the parties.

An update says: "The business continues to grow its outlet breadth and operated from 44 sales outlets year-to-date (2014: 42), an increase of 5%.

"Unit completions of 1,124 are 3% ahead of prior year, with open market completions up 8%."

Average open-market selling prices of £322,000 are 20% higher than the £269,000 achieved in the first half of 2014, reflecting an element of price inflation but also as the product and location mix of the business evolves in line with our intended strategy.

Chief executive Stephen Stone said: "Purchaser appetite to secure a new home remains strong and conditions to support this level of demand are very favourable. The business is well positioned to continue to grow volumes and revenues in line with our previously stated targets and make its contribution to the delivery of the new homes that the country needs."

20 May Beaufort... N/A Buy
20 May Barclays... 445.30 Overweight
20 May Deutsche Bank 402.00 Hold

IC - Crest Nicholson was a late guest at the UK housebuilders' party, having partially floated just over two years ago. But its progress since then has been little short of meteoric and a trading update suggests that there is plenty more to come.

Half year results

44 reasons-to-buy-barratt-developments-plc-crest-nicholson-holdings-plc-countrywide-plc-and-barclays-plc/

IC - It's hard to find fault with Crest Nicholson

(CRST) either, with its expanding dividend and substantial land bank with a gross development value of roughly £10bn, and we retain our buy rating

Upgrade - 8 Sep Goldman Sachs 790.00 Conviction Buy

crest-nicholson-is-goldman-s-top-pick-in-midst-of-housing-sector-s-results

Cazenove comment:
"We expect 2016 to be another year of improved profitability and strong operating conditions for the UK housebuilders. We see little risk either of either earnings downgrades, or of news flow that would meaningfully impact expectations for longer-term returns. While the sector is 38% up year to date, we still see an average 14% upside potential. At this stage we see most value in the small-caps. We upgrade Crest Nicholson to Overweight (20% upside) and downgrade Barratt Developments to Neutral (+9%) and Persimmon to Underweight (+3%), as a relative valuation call.
 We struggle to see the land market becoming tougher any time soon, meaning we expect margins and returns to remain strong: We continue to believe that the land market dynamics and strong demand environment driving current strong returns are likely to persist, meaning we believe the current average RoE of 20% is sustainable and has upside, despite the historical average being only 15%.
 We see the risk to short-term earnings as being weighted to the upside: Our estimates continue to be predicated on weaker housing market conditions than the lead indicators currently suggest.
 We see more value in the small cap stocks: We see an average of 8% upside to the FTSE 100s, vs. 20% for the small caps. While we continue to expect the large caps to drive stronger average returns, from what we view as lower-risk operating models, we still believe the small caps trade at an excessive discount (1.6x p/tNAV vs. 2.2x).
 We upgrade Crest Nicholson to Overweight and downgrade Barratt to Neutral and Persimmon to Underweight: We now see 20% upside potential to Crest vs. only 9% for Barratt and 3% for PSN. We expect Crest to continue to drive earnings growth and improvement in ROCE via what we view as a relatively low-risk, high-volume growth strategy. While our views on the outlook for both Barratt and PSN remain positive, we currently view both stocks as relatively fully valued.

Bought some at 335p

Fall looks overdone as with most House Builders