UK's Crest Nicholson delays results as talks with lender continue

Key Takeaways

• The delay aligns with the company’s efforts to secure temporary covenant relief from lenders, following a sharp downgrade in its profit outlook and weak market sentiment (investing.com).
• Crest Nicholson has slashed its full‑year EBIT forecast to £5‑15 million, warned of potential pretax losses around £10 million, and trimmed guidance for completions (1,400‑1,500 units) and land sales (~£40 million), citing macro‑uncertainty, higher interest and cost pressures (investing.com).
• The company initiated talks with lenders amid concerns over covenant breaches, particularly on interest‑cover, and is focused on stabilising cash flow and balance sheet amid a prolonged period of high interest rates and weak consumer confidence (constructionenquirer.com).