Crest Nicholson cuts profit outlook, seeks covenant relief By Investing.com
Crest Nicholson cuts profit outlook, seeks covenant relief
uk.investing.comHere are the latest publicly reported updates on Crest Nicholson Holdings plc as of today:
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Profit warning and covenant relief angle (April 21, 2026): Crest Nicholson reduced its 2026 earnings guidance significantly, guiding to earnings before interest and taxes of £5 million to £15 million and a potential pretax loss to breakeven, driven by lower land sales, fewer completions, and higher input costs. The company also indicated it may breach one covenants related to interest cover and is seeking temporary covenant relief from lenders. This update also notes a lower land sales target of about £40 million and a reduced completion forecast of 1,400–1,500 units for 2026. [Source: Investing.com summary of Crest Nicholson profit outlook and covenant relief, published 2026-04-21][1]
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Interim results for six months ended 30 April 2025: Crest Nicholson reported trading in line with expectations and noted progress against strategic priorities, including customer focus and improvements in operating efficiency. They confirmed full-year guidance at that time and highlighted actions such as structural reorganization (merger of Midlands and Yorkshire divisions) and progress on cost reductions. [Source: Crest Nicholson interim results press release, 2025-06-11][2]
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Market reaction and context around the 2026 guidance cut: Media coverage described Crest Nicholson’s shares sliding on the cut to guidance, with estimates for 2026 pretax and earnings downgraded accordingly and a more cautious outlook for land sales and build costs. [Source: Morningstar article detailing the guidance cut and market reaction, 2026-04-20][3]
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Preliminary/final results around 2024: Crest Nicholson released its preliminary results for the year ended 31 October 2024, providing the baseline performance context preceding the 2025–2026 updates. [Source: Crest Nicholson press release, 2025-02-03][4]
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Additional ongoing coverage and shareholder information: Various financial information providers and broker notes compile Crest Nicholson news, including MarketScreener and regulatory newsroom updates, which capture ongoing disclosures and market commentary around Crest Nicholson’s trading updates and results. [Sources: MarketScreener (2026-04-16), LSE RNS trading updates (2025-03-19), HL and Redmayne Bentley pages (2025–2026)][5][6][7][9]
Notes
- The most recent and material update appears to be the April 21, 2026 profit warning and covenant-relief process, which significantly lowered 2026 earnings expectations and signaled potential covenant breaches.[1][3]
- For historical context, Crest Nicholson’s mid-2025 interim results indicated the company was on track to meet its FY25 guidance and had begun operational improvements and a restructuring to improve efficiency.[2]
- If you’d like, I can pull full annual/regulatory filings or provide a summarized timeline of events with exact figures and covenant details.