Crest Nicholson house sales continue to build

19th Mar 2015 08:25

Housebuilder Crest Nicholson reported that the strong start to the spring selling season has continued in the weeks since its January results statement, with its sales rate up 10% on the same time last year. The FTSE 250 company said it was selling at a rate of 0.92 open-market sales per outlet week from 766 cumulative reservations from 44 outlets, compared to a rate of 0.84 in 2013."This encouraging level of sales underpins the board's confidence that the business is continuing to make good progress in delivering on its stated growth objectives," the company said in a statement ahead of its annual general meeting. At January's results it had notified that its weekly sales per site in January were higher than in the corresponding period a year ago, having recovered from a decline in November and December.The group completed 2,530 completions in the 12 months to 31 October and posted pre-tax profit before exceptional items of £116.7m, ahead of analysts' expectations.