Crest Nicholson issues profit warning as Brexit bites

Dylon Works Crest Nicholson

Housebuilder Crest Nicholson has warned profits will be lower than expected because buyers have been put off by “political and economic uncertainties” as Brexit approaches.

The group now expects pre-tax profits of between £170m and £190m for the year to 31 October, below market expectations of £205m. Shares fell by as much as 14% in early trading, but recovered soon after and were down around 3.5% at 9am.

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