Share Prices & Company Research

Market News

26 Mar 2019 | 08:04

Crest Nicholson poaches Galliford Try CEO; warns Brexit uncertainty will continue to hurt demand

Crest Nicholson said Galliford Try Chief Executive Peter Truscott would be replacing Patrick Bergin as CEO in September, and the homebuilder warned ongoing Brexit uncertainty would continue to hurt home buying demand. 'The business has faced challenges with dampened customer demand in higher price point areas, amid ongoing political and macro-economic uncertainty. This is likely to continue as political uncertainty prevails,' the company said. But the company also touted optimism, pointing to stable pricing in its key markets and sales rates consistent with previous guidance, with an encouraging forward sales position, having already secured over 50% of our open market sales for the year. 'At £686m, our total forward sales positions us well to deliver both revenue and volumes similar to last year and continue to improve our cash generationm'' the company said. The homebuilder remained on target to increase the level of partnerships as its new strategy benefited from the framework of Strategic Partnerships introduced by Homes England, creating a 'positive backdrop for the public and private sector to work together to increase the delivery of new homes of different tenures.'

At 8:04am: (LON:CRST) Crest Nicholson Holdings Plc share price was +25.4p at 378.4p

Story provided by
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.