observation24 Jan 2018 08:22
Housebuilder Crest Nicholson said revenue rose 5% to GBP1.04 billion in its financial year that ended October 31, with pretax profit up 6% to GBP207.0 million.
The firm proposed a final dividend of 21.8 pence per share, bringing the total dividend for the year to 33.0p, up 20% year-on-year.
"The outlook for the UK housing market is strong, despite the challenges of affordability and the impact of stamp duty changes, which may have suppressed the volume of sales at higher values, especially in London," the firm said.
On the Main Market, Countrywide said Alison Platt has resigned as chief executive and will stand down from the board.
"Since joining in 2014 I have worked hard, within a difficult market, to structure a fragmented business into one set for success. I believe those actions will serve Countrywide well in the future. However, the time is now right for me to step aside. I look forward to seeing the business build back and return to growth," said Platt.
The firm said it has asked Peter Long will become executive chairman until a successor to Platt is appointed. Paul Creffield, previously managing director, commercial development has been appointed as operations director with immediate effect. Countrywide said it has "lost focus" in its core sales & letting area, leading to a profit warning last week.