Crest Nicholson Holdings plc (CRST.L), a property developer, Tuesday reported loss before tax of 143.7 million pounds for the full year, compared with profit before tax of 23.1 million pounds in the previous year, primarily impacted by lower revenue as well as exceptional cost of sales.
Excluding special items, the company posted adjusted profit before tax of 22.4 million pounds, lower than 48 million pounds last year.
Operating loss was 128.7 million pounds versus operating profit of 29.9 million pounds in the prior year, while adjusted operating profit dropped to 31.3 million pounds from 50.8 million pounds.
Net loss for the year was 103.5 million pounds or 40.4p per share compared with net profit of 17.9 million pounds or 7p per share a year ago.
Adjusted profit declined to 14.4 million pounds or 5.6p per share from 36.3 million pounds or 14.1p per share last year.
Revenue decreased to 618.2 million pounds from 657.5 million pounds in the previous year.
For fiscal 2025, the company expects profit before tax to be in the range of 28 million pounds - 38 million pounds.
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