Half Year Results 

Crest Nicholson impairs stock as price outlook worsens

Crest Nicholson impairs stock as price outlook worsens

Crest Nicholson (CRST) has taken a £43m impairment charge against the value of its inventory, anticipating a fall in UK house prices. The housebuilder’s weaker gross margin comparable to the broader sector have made it more susceptible to a fall in sales prices, said chief financial officer Duncan Cooper. “We probably have historically a higher proportion of our portfolio more likely to fall into the jaws of needing that adjustment,” said Mr Cooper.

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