Crest Nicholson Holdings PLC (FRA:C38)
€ 1.962 0.034 (1.76%) Market Cap: 529.80 Mil Enterprise Value: 546.42 Mil PE Ratio: 0 PB Ratio: 0.48 GF Score: 70/100
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Crest Nicholson Holdings PLC Analyst and investor conference call Transcript

Aug 21, 2023 / 08:00AM GMT
Release Date Price: €2.08 (-7.14%)
Peter Truscott
Crest Nicholson Holdings plc - CEO & Director

Yes. Good morning, ladies and gentlemen. Thank you for joining the call this morning. You will have seen the statement that we issued to the market this morning. So I'll just give a brief backdrop to that and some additional commentary, and then we'll leave it open for analysts' questions.

So you'll recall when we set out our expectations for the full year at our half year presentation. We were acquiring a sales rate for H2 of 0.5 SPOW rate. The early part of this period, we were seeing sales at or around that level, perhaps just below, but within striking distance of that.

What we have seen over recent weeks, particularly the last 6 or 7 weeks, has been declining -- and actually, in recent weeks, quite a significant reduction in sales rates such that we -- around 6 weeks left of the sales potential for this financial year, it's important that we recognize that those sales rates which were achieved in the last 6 or 7 weeks are going to mean that our profit outturn for the year would be significantly lower than market

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