AGM Statement

RNS Number : 5231I

Crest Nicholson Holdings PLC

22 March 2018

 

Crest Nicholson Holdings plc

AGM STATEMENT

Crest Nicholson Holdings plc (the "Company") holds its 2018 Annual General Meeting today at Brooklands Hotel, Weybridge, Surrey starting at 10.30 a.m., where the Group's Chairman, William Rucker, will provide the following statement:

"The Board is pleased to report that the trading environment highlighted at the preliminary results announcement in January continues to be generally robust with good sales growth across our areas of operation. Demand for new homes continues to be strong underpinned by high levels of employment and Government policies to improve access to housing; levels of sales price inflation have moderated which is also helping to maintain affordability for purchasers.

In line with expectations, total forward sales contributing to the current financial year, including completions year to date, at £620m are 15% higher than the £541m achieved at the same point last year; cumulative open-market forward sales revenues (excluding PRS) of £342mm are 10% higher. The Company's expansion of the Chiltern and Midlands divisions continues with the current number of sales outlets, at 55, some 12% higher (2017: 49) and further outlet openings planned over the coming months.

The robust sales outlook, combined with the actions that the business is taking to expand its operational footprint, underpin the Board's confidence that the Company will continue to deliver on its stated growth objectives".

For further information, please contact:

Kevin Maguire

Company Secretary

Crest Nicholson Holdings plc

[phone]

22 March 2018

 

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