Crest Nicholson Holdings PLC AGM Statement (2568A)
23 March 2017 - 6:00PM
UK Regulatory
TIDMCRST
RNS Number : 2568A
Crest Nicholson Holdings PLC
23 March 2017
Crest Nicholson Holdings plc
LEI: 213800ROIFXRRRKVQD25
Crest Nicholson Holdings plc
AGM STATEMENT
Crest Nicholson Holdings plc (the "Company") holds its 2017
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 has
remained generally robust, with good sales across our areas of
operation. Purchasers continue to benefit from strong levels of
employment and wide mortgage access; modest levels of sales price
inflation in line with earnings growth are also helping to maintain
affordability.
Cumulative open-market forward sales revenues (excluding PRS) of
GBP312m are broadly level with the GBP311m achieved at the same
point last year; total forward sales at GBP506m are 5% higher.
After the disturbance last year arising from the vote to leave
the European Union, the Company was pleased to have reached
landmark sales of GBP1billion (including through joint ventures),
in line with our stated target and representing a 90% increase in
revenues from 2013, the year in which the Company was re-listed
after its IPO.
Against this high level of achievement, the Company re-iterated
its commitment to further stretching targets for 2019, of 4,000
homes and GBP1.4billion of sales. Land investment has been strong,
with replenishment levels increasing to seed an additional
operating division in the Midlands, following the successful launch
of our new Chiltern division in 2015. Crest Nicholson is also
engaged with key partners in examining approaches to off-site
manufacture, to further support the delivery capacity of the
business.
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
+44 (0) 1932 580 555
23 March 2017
This information is provided by RNS
The company news service from the London Stock Exchange
END
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