Crest Nicholson slows expansion plans as profit hit by £105m cladding charge

By Carl Brown2023-01-17T11:03:00

Housebuilder puts opening of third regional division on hold due to “macroeconomic uncertainty”.

Crest Nicholson’s pre-tax profit for the year has fallen 62% due to its £105m developer pledge charge.

The housebuilder, in its full year results for the year to 31 October today, reported pre-tax profit of £32.8m, down from £86.9m the year before.

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