Crest Nicholson hit by £105m cladding charge as housebuilder puts brakes on expansion plans

By Carl Brown2023-01-17T11:04:00

Source: Shutterstock

Firm puts opening of third regional division on ice because of slowing housing market

Crest Nicholson’s latest pre-tax profit fell 62% due to £105m it has set aside to cover developer pledge charge.

The housebuilder, in its full year results for the year to 31 October today, reported pre-tax profit of £32.8m, down from £86.9m the year before.

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