Crest Nicholson forward sales up 16%

In a brief statement to be given at the annual general meeting, Crest Nicholson said the trading environment remains positive, with sales up to 11 March “correspondingly strong”.

The FTSE 250 housebuilder said forward sales revenues were up 16% on the corresponding period a year ago to £311m, excluding the private rented sector, mostly thanks to a higher average selling price in the sales mix.

The company said this momentum has continued in the six weeks since its preliminary announcement, during which time the date for a referendum on the UK's membership of the European Union was announced.

“This robust level of sales underpins the board's confidence that the business is continuing to make good progress in delivering on its stated growth objectives."

At 0815 GMT, shares were up 1.8% to 561p.