Crest Nicholson Shares Tumble on Weak Guidance as Sales Stall

Crest Nicholson Holdings Plc shares plummeted the most in 16 months after the UK housebuilder warned pretax profit will be at the lower end of its guidance, as home buyers remained on the sidelines amid uncertainty before the budget.

The stock plunged as much as 12% in early London trading, the biggest intraday loss since August 2024, after the company said it now expects to report adjusted pretax profit for the full year at the low end of its previously stated £28 million ($36.9 million) to £38 million range, according to a statement Tuesday. That’s below a Bloomberg compiled consensus estimate of £33 million.