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Primary Recommendation

Crest Nicholson - Expect dividends to grow faster than eps

February 2015

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.

  • Epic Code:
  • CRST
  • Price:
  • 411p
Crest Nicholson is a top 10 house builder and the smallest within the sector. But the company has big ambitions and says a combination of higher selling prices and higher volumes means that in just two years, sales could be approaching £1billion from a base of £636m for the year to 31 October 2014. The company makes two points. First that it plans to grow to at least 2,700 homes annually by 2016 up from 2,530 in 2014. This is contrary to Berkley Homes (BKG; 2423p), which built 3,700 homes in 2014 mostly in London and has recognised that the London property market could become a bear trap and said it will hand cash back to shareholders as special dividends rather than expand. But then Crest Nicholson isn’t bui ...

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Related Articles

Crest Nicholson - Lifts target to 4,000 homes by 2019 (July 2015)
Crest Nicholson - Varde sells out and removes overhang (December 2014)
Crest Nicholson - Housebuilder returns to market (March 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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