If only...
Be glad you didn't buy
Crest Nicholson (LSE: CRST) develops sustainable housing and mixed-use communities. Its shares have declined by roughly 20% over the past year. This is despite reporting solid results in January for the year to 31 October 2017, during which sales were up 7% to £1.1bn. It also posted a 5% rise in revenues, from £997m to £1bn, as well as a 6% rise in pre-tax profits, from £207m to £195m. The results were boosted by demand for new homes being underpinned by rising employment and low interest rates. The shares currently yield 7%.
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