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Wed July 31 2024

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Continued buoyancy for Crest Nicholson

20 Mar 14 Shareholders of Crest Nicholson meeting today will hear that the company’s forward sales are running at 50% higher than this time last year.

The house-builder remains on course to deliver its planned production output for 2014 of 2,500 units.

In an interim management statement Crest Nicholson said that the sales environment for new-build housing continues to be buoyant, with the stimulus from the government's Help to Buy scheme and generally improving economic conditions helping many new purchasers into home ownership.

Forward sales stand at £330m, a 50% increase on the £220m achieved at this time last year. At 7th March, 58% of reservations had been taken in respect of forecast FY2014 legal completions.

Chief executive Stephen Stone said: "Market conditions throughout our areas of operation continue to be favourable and the business is responding by increasing our delivery of new homes. We are continuing to add value to our land bank and to progress opportunities to develop the business for the benefit of all our stakeholders."

The company is holding its annual general meeting in Weybridge, Surrey today.

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