IN BRIEF: Crest Nicholson delays results amid talks with lenders

Crest Nicholson Holdings PLC - Surrey, England-based housebuilder - Says the publication of its results for the six months ended April 30 will be delayed until July 16. Explains that it is in talks with lenders as it seeks a temporary covenant relaxations with discussions "expected to conclude by mid-July". Says the results delay will "allow sufficient time for the orderly completion of the covenant reset process and for the group's auditors to complete their review processes".

This follows an April trading update in which Crest Nicholson lowered full-year guidance and warned of higher-than-forecast debt amid "a marked softening in sentiment". The company eyes earnings before interest and tax for financial 2026 from GBP5 million to GBP15 million and a year-end net debt position of GBP100 million to GBP120 million. JPMorgan said this implies pretax profit between breakeven and a loss of GBP10 million in financial 2026, compared with previous guidance of GBP32 million to GBP40 million, and profit of GBP2.9 million in financial 2025.

Current share price: 67.60 pence, up 2.3% on Tuesday afternoon in London

12-month change: down 64%

By Holly Munks, Alliance News reporter

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Crest Nicholson