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Crest Nicholson - Lifts target to 4,000 homes by 2019

July 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:
  • 559p
The shares have now more than doubled since we made them a Buy in the March 2013 issue. At the time, the plan was to get to 2,500 homes by 2016, which looks to be beaten and Crest has also introduced a new target of 4,000 homes and £1.4bn sales by 2019.The interims last month to end April showed sales up 38% to £333.2m and a material increase in Crest’s forward order position (up 26% to c£436m).Overall including affordable housing, there were 1124 units sold in the year (2014: 1091). Of these, the open market properties went up from 769 to 834.  Open-market ASPs were also up 15% at £309,000 but as the proportion of pre-2009 written down land began to make a diminishing contribution, gross ma ...

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Crest Nicholson - Expect dividends to grow faster than eps (February 2015)
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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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