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Fri June 18 2021

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Solid start for Crest after stock market return

7 May 13 Housebuilder Crest Nicholson reports a 9% increase in houses built and sold in the six months to 30 April 2013, the first half of its financial year.

The company, which earlier this year returned to the stock market through a share flotation, notched up 810 housing legal completions in the half-year.

Most Crest sites are in the south and southeast of England, where prices have risen 3%.

The business is currently operating from 44 locations. Forward sales as at 30 April 2013 of £222m are up 27% on a year before.

Crest has also exchanged contracts with food retailer Morrisons to build a supermarket at its Centenary Quay development in Southampton.

Chief executive Stephen Stone said: "Crest has made a strong start to its first two months as a listed company, with the business performing in line with the board's expectations.

“Signs of improved access to mortgages together with the initiatives that the government has put in place should serve to stimulate activity in the industry and assist people in purchasing a new home.

“The sites that we have acquired and new outlets that we have opened will continue to support our growth objectives."

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