9 months ago
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Surrey-based construction company has been hit by rising costs and impact of high interest rates
One of Britain’s largest housebuilders, Crest Nicholson, has issued its third profit warning in a matter of months because of rising costs, raising speculation that it could become a takeover target unless its fortunes reverse.
The latest warning comes less than a week before the Surrey-based company will issue its full-year results, which are expected to lay bare the challenging year that housebuilders such as Crest Nicholson have faced amid surging interest rates, which have deterred buyers and caused house prices to fall.
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