Crest Nicholson Holdings
CRST · Main Market · Consumer Products and Services · mcap £147m · 58.9p
Crest Nicholson builds and sells homes, mainly in southern England, and also sells land and builds for housing associations and bulk buyers. It is repositioning from a volume builder to a mid-premium developer.
Financials · LTM to 30 Apr 26
Source: results 16 Jul 26 ↗
- Revenue
- £559m
- Operating profit
- −£20.8m
- Net income
- −£30.4m
- Free cash flow
- −£44.7m
- Net debt
- £142m
- Market cap
- £151m
- EV / EBIT
- –
- FCF yield
- −29.5%
- Price / book
- 0.2×
Latest half-year · H1 Apr 26 vs H1 Apr 25
results 16 Jul 26 ↗
- Revenue
- £198m −21%
- Operating profit
- −£26.2m prior £18.8m
- Net income
- −£25.9m prior £6.7m
- Cash from operations
- −£98.4m prior −£69.8m
Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.
Latest report: H1 Apr 26 (six months to 30 Apr 26), published 16 Jul 26 · read the results ↗
£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source
| LTM Apr 26 | FY Oct 25 | FY Oct 24 | FY Oct 23 | |
|---|---|---|---|---|
| Revenue | 558.9 | 610.8 | 618.2 | 657.5 |
| Gross profit | 40.4 | 81.3 | (73.7) | 86.3 |
| Adjusted operating profit | 10.9 | 34.7 | 29.2 | – |
| Exceptional / adjusting items | (31.7) | (10.5) | (160.0) | – |
| Operating profit | (20.8) | 24.2 | (130.8) | 29.9 |
| Depreciation (owned assets) | 0.8 | 0.4 | 0.4 | 0.5 |
| Depreciation (right-of-use) | 3.6 | 3.4 | 2.3 | 2.3 |
| Share-based payments | 2.2 | 2.1 | 1.8 | 1.5 |
| Finance costs | – | (23.4) | (18.9) | – |
| Profit before tax | (41.7) | 2.9 | (145.8) | 23.1 |
| Tax | 11.3 | (0.7) | 40.8 | (5.2) |
| Net income (owners) | (30.4) | 2.2 | (105.0) | 17.9 |
| EPS basic | (11.8p) | 0.9p | (41.0p) | 7.0p |
| EPS diluted | (11.8p) | 0.9p | (41.0p) | 7.0p |
| Dividend per share | – | 3.1p | 2.2p | – |
| H1 Apr 26 | vs H1 Apr 25 | H2 Oct 25 | H1 Apr 25 | H2 Oct 24 | H1 Apr 24 | H2 Oct 23 | |
|---|---|---|---|---|---|---|---|
| Revenue | 197.6 | −21% | 361.3 | 249.5 | 360.7 | 257.5 | 374.8 |
| Gross profit | 3.4 | −92% | 37.0 | 44.3 | (75.9) | 2.2 | 27.1 |
| Adjusted operating profit | (11.9) | n/m | 22.8 | 11.9 | 23.0 | 6.2 | – |
| Exceptional / adjusting items | (14.3) | n/m | (17.4) | 6.9 | – | – | – |
| Operating profit | (26.2) | n/m | 5.4 | 18.8 | (106.7) | (24.1) | (0.8) |
| Depreciation (owned assets) | 0.6 | +200% | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 |
| Depreciation (right-of-use) | 1.3 | +18% | 2.3 | 1.1 | 1.5 | 0.8 | 1.2 |
| Share-based payments | 1.1 | +10% | 1.1 | 1.0 | 1.1 | 0.7 | 0.5 |
| Profit before tax | (35.2) | n/m | (6.5) | 9.4 | (114.9) | (30.9) | (5.3) |
| Tax | 9.3 | n/m | 2.0 | (2.7) | 33.3 | 7.5 | 2.1 |
| Net income (owners) | (25.9) | n/m | (4.5) | 6.7 | (81.6) | (23.4) | (3.2) |
| EPS basic | (10.1p) | – | (1.7p) | 2.6p | (31.9p) | (9.1p) | (1.2p) |
| EPS diluted | (10.1p) | – | (1.7p) | 2.6p | (31.9p) | (9.1p) | (1.2p) |
| Dividend per share | – | – | – | – | 1.2p | 1.0p | – |
| H1 Apr 26 | vs H1 Apr 25 | H2 Oct 25 | H1 Apr 25 | H2 Oct 24 | H1 Apr 24 | H2 Oct 23 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | (98.4) | n/m | 57.9 | (69.8) | (5.2) | (62.6) | 11.5 |
| Interest paid | (8.9) | +154% | (5.1) | (3.5) | (2.3) | (2.8) | (2.7) |
| Tax paid | (2.3) | n/m | 1.2 | 0.6 | 4.8 | 7.2 | (5.5) |
| Capex (PP&E) | (0.2) | n/m | 0.0 | 0.0 | (0.8) | (0.6) | (0.3) |
| Lease principal paid | – | – | – | – | (0.9) | (1.0) | (1.1) |
| Dividends paid | (4.6) | +48% | (3.3) | (3.1) | (2.6) | (29.5) | (14.1) |
| Latest Apr 26 | FY Oct 25 | FY Oct 24 | FY Oct 23 | |
|---|---|---|---|---|
| Other intangibles | 29.0 | 29.0 | – | 29.0 |
| Property, plant & equipment | 2.4 | 2.8 | 3.2 | 2.2 |
| Associates & JVs | 13.1 | 9.5 | 8.6 | 10.7 |
| Inventories | 1,052.5 | 1,056.1 | 1,129.1 | 1,164.8 |
| Trade receivables | 102.4 | 111.3 | 98.1 | 120.0 |
| Cash | 94.0 | 125.0 | 73.8 | 162.6 |
| Current assets | 1,255.1 | 1,296.0 | 1,306.7 | 1,460.4 |
| Total assets | 1,383.2 | 1,420.8 | 1,435.8 | 1,530.3 |
| Trade payables | 221.5 | 269.3 | 285.2 | 337.0 |
| Borrowings, current | 235.8 | 99.1 | 19.1 | 14.2 |
| Lease liabilities, current | 3.0 | 3.2 | 3.2 | 2.0 |
| Current liabilities | 561.2 | 492.7 | 401.6 | 438.7 |
| Borrowings, non-current | 0.0 | 64.1 | 63.2 | 83.5 |
| Lease liabilities, non-current | 6.2 | 7.0 | 8.8 | 4.4 |
| Pension surplus / (deficit) | 13.7 | 13.7 | 19.5 | 10.0 |
| Total liabilities | 694.4 | 702.7 | 713.3 | 674.0 |
| Total equity | 688.8 | 718.1 | 722.5 | 856.3 |
| Net cash / (debt) ex leases | (141.8) | (38.2) | (8.5) | – |
| Undrawn facilities | – | – | – | 250.0 |
| H1 Apr 26 | H2 Oct 25 | H1 Apr 25 | H2 Oct 24 | H1 Apr 24 | H2 Oct 23 | |
|---|---|---|---|---|---|---|
| Other intangibles | 29.0 | 29.0 | 29.0 | – | 29.0 | 29.0 |
| Property, plant & equipment | 2.4 | 2.8 | 3.0 | 3.2 | 2.6 | 2.2 |
| Associates & JVs | 13.1 | 9.5 | 8.9 | 8.6 | 8.3 | 10.7 |
| Inventories | 1,052.5 | 1,056.1 | 1,099.2 | 1,129.1 | 1,181.9 | 1,164.8 |
| Trade receivables | 102.4 | 111.3 | 104.7 | 98.1 | 102.3 | 120.0 |
| Cash | 94.0 | 125.0 | 81.2 | 73.8 | 88.7 | 162.6 |
| Current assets | 1,255.1 | 1,296.0 | 1,289.3 | 1,306.7 | 1,388.4 | 1,460.4 |
| Total assets | 1,383.2 | 1,420.8 | 1,412.8 | 1,435.8 | 1,459.1 | 1,530.3 |
| Trade payables | 221.5 | 269.3 | 231.1 | 285.2 | 323.8 | 337.0 |
| Borrowings, current | 235.8 | 99.1 | 89.1 | 19.1 | 14.2 | 14.2 |
| Lease liabilities, current | 3.0 | 3.2 | 3.5 | 3.2 | 1.8 | 2.0 |
| Current liabilities | 561.2 | 492.7 | 435.4 | 401.6 | 444.1 | 438.7 |
| Borrowings, non-current | 0.0 | 64.1 | 63.6 | 63.2 | 83.9 | 83.5 |
| Lease liabilities, non-current | 6.2 | 7.0 | 7.5 | 8.8 | 5.5 | 4.4 |
| Pension surplus / (deficit) | 13.7 | 13.7 | 19.2 | 19.5 | 9.3 | 10.0 |
| Total liabilities | 694.4 | 702.7 | 686.0 | 713.3 | 656.0 | 674.0 |
| Total equity | 688.8 | 718.1 | 726.8 | 722.5 | 803.1 | 856.3 |
| Net cash / (debt) ex leases | (141.8) | (38.2) | (71.5) | (8.5) | (9.4) | – |
| Undrawn facilities | – | – | – | – | 250.0 | 250.0 |
Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.
Company filings. Not investment advice.