Author Topic: Profit Up 27% But Crest Nicholson Build Just 145 More New Homes in 2016  (Read 1463 times)

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New Home Expert

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Crest Nicholson have released their preliminary results for the accounting year to 31 October 2016.
Still only "preliminary" nearly three months after their year-end?

During the year Crest increased production by just 145 homes on the previous year – up 5%.
Meanwhile their average selling price rocketed to £371,000 an 18% increase.
Unsurprisingly, profits are up 27% on the previous year, with pre tax profits at £195million and operating profit at £204million a profit margin of 20.4%)

Turnover (sales) also up 24% on last year's results to £997million.

In the meantime Crest's landbank (including strategic land) now totals 32,927 plots - 11.5 years supply based on current output.

And they try to claim housebuilders aren’t landbanking!
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