Crest Nicholson has issued yet another profit warning, downgrading its profit forecast for a third time in a matter of months to £41m.

In November, the firm lowered its annual profit forecast for the second time to £45m to £50m”. This followed a previous lowering of its forecast in August from £73.7m to £50m. 

The news that the firm expects to make £41m in profit before tax was explained in a trading update published on the Stock Exchange today was related to work on “legacy sites”.