FTSE 250 housebuilder Crest Nicholson has reported a 2% drop in pre-tax profits in half-year results to 30 April after a worse than expected fall in operating margins.
The housebuilder recorded pre-tax profit for the past six months of £74.8m, down from £76.2m at the same point the year before despite a rise in revenues to £473.8m from £419.7m.
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