Half Year Results 

Crest Nicholson margins dip

Crest Nicholson margins dip

Crest Nicholson’s (CRST) shift away from higher priced areas of the housing market – which have suffered a heightened slowdown in growth – eroded operating profit margins during the first half. The housebuilder has switched focus from sales growth to pre-sales and partnerships with local authorities and registered providers, which accounted for 45 per cent of homes. That boosted total forward sales for the year by 15 per cent to £870m.

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