CRST - trading update19 Mar 2024 08:08
Crest Nicholson said it has achieved reservations in line with expectations in the period from November 1 to March 15. Sale prices achieved have been in line with expectations and cancellations remained at normalised levels, it added. However, build activity in the sector continued to operate at a lower level which is now resulting in lower labour costs in some areas. Crest also updated markets on pre-2019 completed sites. It explained that it has become aware of "certain build defects predominantly on four sites that were completed prior to 2019." The company said that these sites will require remediation over the next three years at an estimated cost of up to GBP15 million.