May 16 Crest Nicholson Holdings Plc
* Trading continues to be in line with expectations and
group remains on track to deliver growth in unit sales and c.
10% in revenues for full year to 31 october 2017.
* As expected, unit completions for first half of 2017
financial year at 1,064 (2016: 1,206) are lower than comparative
period in 2016, primarily due to a reduced first half weighting
from timing of prs completions
* At end of april, forward sales for 2017 year including
year to date completions are 5% ahead of same period last year.
* Forward sales have been supported by an increase in outlet
numbers which averaged 49 for first half of 2017 (2016: 44) an
increase of 11%.
* Business has taken first steps to establish a new division
in midlands, is building momentum in forward sales for year and
pursuing disciplined expansion of group's land pipeline for
* Housing market continues to be robust across group's
principal operating areas.
* Addressing production capacity, clearance of planning
conditions and shortage of skilled labour continue to be key
areas of focus for sector in terms of securing volume delivery
* Against this market backdrop board remains confident that
business is well positioned to continue to deliver a strong
operational and financial performance in medium term.
* Sales per outlet week, excluding prs, averaged 0.81 (2016:
0.87) which is in line with average sales rate achieved through
whole of 2016.
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