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FT Opening Quote – Crest margins slip as London sales slow

Summary:
Crest Nicholson shareholders: big-time winners, or small time-losers?It depends on whether you look at the housebuilder’s absolute or relative return, writes Matthew Vincent. Crest’s share price rose by 20 per cent in calendar year 2017, which is an extraordinary 12-month performance… until you realise that its rivals shares rose by an average of 43 per cent.But, either way, this morning’s full-year results leave both absolute return and growth investors with a decision to make. Do those who feel like winners want to double down? And do those who feel like losers fancy playing double or quits?Crest Nicholson has reaffirmed the positive numbers in its November trading update. Full-year property completions were up 2.3 per cent year-on-year to 2,935 units, and the open market average selling

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Crest Nicholson shareholders: big-time winners, or small...

Chris Nuttall
Award-winning journalist with more than 35 years' experience in newspapers, magazines, radio, TV and the internet at local, national and international levels. At the BBC for 17 years and has spent the past 15 with the Financial Times. Served as a foreign correspondent in Sri Lanka, Washington and Turkey as well as in a roving role for the BBC. Turned a late 1980s geeky interest into a professional focus on the internet and technology and was founding World Editor of the BBC News website and the BBC 's first Internet Correspondent.

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