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Crest Nicholson H1 Pretax Profit Declines; Revenue Up 7% - Quick Facts

Crest Nicholson Holdings plc (CRST.L) stated that its trading performance has been encouraging in the first half set against the uncertain and politically turbulent backdrop. Operating profits were 70.8 million pounds, 10% lower than the first half of 2018 due to the lower margin partially offset by the higher revenues. Given the current market, the Board remains confident in the prospects for the rest of the year and in achieving earnings in line with consensus.

For the six months ended 30 April 2019, profit before tax was 64.4 million pounds, 11% down from 72.0 million pounds, prior year. Earnings per share was 20.2 pence compared to 22.6 pence. Overall Group revenue increased by 7% to 501.9 million pounds.

The Board has resolved to pay an interim dividend of 11.2 pence per share, payable on 4 October 2019 to shareholders on the register on 20 September 2019. The dividend represents approximately one third of the dividend expected to be paid in respect of the financial year ending 31 October 2019.

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