Crest 6.9% today , no kidding Jeffries misjudged....nice little earner after most I know simply topped up; what was behind Jeffries comments I do wander?
Crest Nicholson’s 2014 results put it in a strong position for year ahead: Property developer Crest Nicholson reported a 21% increase in revenue during its annual results for the year ending 31 October to £636 million which translated to a 34% increase in profit before tax of £116 million.
RE: very strong results
no surprise here i was expecting this ,450p yes they will get there.
very strong results
Well - I have just read the preliminary results for 2014. A very strong set of results with profit after tax up 34% and earnings per share up to virtually 40p. In addition the value of forward sales are up 21% on last year. Surely based on EPS of 40p the share price is headed for £4.50 This is the 4th builder to announce results since Jefferies recent update and every one has announced strong results and very significantly strong forward sales. Jefferies has got things badly wrong and should revise their advice and price targets immediately
23 Jan '15
are out next week i expect share price to rise up to the result day
16 Jan '15
I see that Barretts also issued a trading update 2 days ago. Surprise surprise, not only a significant sales and profit increase but they have reported a 17% year on year increase in forward sales. That makes Taylor Wimpey, Bovis and Barretts reporting significantly increasing forward sales in the last week. This is tangible actual information on the positive current and future performance of UK housebuilders and yet the market seems to give more credibility to Jefferies opinions which are clearly at odds with what is actually happening in the new build part of the residential marketplace. The marketplace should be seriously questioning the quality of Jefferies advice!
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