Crest Nicholson Slashes FY2026 Profit Outlook 89%

Crest Nicholson cut FY2026 EBIT forecast to £5‑£15 million, a 66‑89% reduction from consensus £43.7 million.
FY2026 land sales now projected at £40 million versus prior £75‑100 million range, with slower pace despite potential up to £100 million.
Completion guidance lowered to 1,400‑1,500 units, about 10% YoY decline; cost inflation now 1‑2% on top of 1‑2% estimate.
Anticipated pretax loss of up to £10 million and possible breach of interest‑coverage covenant, prompting request for temporary covenant relief.