Trading Statement

Crest Nicholson Holdings plc is holding its Annual General Meeting ('AGM') at 10.30 a.m. today, 25 March and provides the following trading update:

Following the weak trading conditions in the second half of the 2025 calendar year, the Group has seen a sustained improvement in the sales rate since the middle of January, supported by encouraging levels of customer enquiries. In the 10-week period to 20 March, the open market sales rate (excluding bulk) was 0.64 (FY25 0.61) and guidance for the year remains unchanged.

The Group is yet to see any material trading impact from the wider macroeconomic shock of recent weeks but is alert to the potential risks and will respond accordingly to any changes in the trading environment.

Strategic update

One year on from announcing the new strategy, Project Elevate, at our Capital Markets Day, we have made strong progress repositioning the business from a volume housebuilder to a mid-premium, customer-focused developer. The strategy remains focused on delivering high-quality homes, driving operational excellence, and maximising the value of our land bank to support sustainable growth and improved returns.

Progress has continued in reshaping the land bank with one further land disposal from a larger site so far in this financial year.

Operationally, improved processes and governance are driving greater efficiency with the divisional restructuring announced in November now completed.

Customer experience remains a key focus, with continued investment in our sales capability, digital tools, and customer engagement. The Group has continued to drive higher levels of customer satisfaction and has maintained its HBF Five Star Housebuilder status.

The Group will report its half year results for the six months to 30 April on Thursday 11 June.