UK housebuilder Crest Nicholson reports a £144M loss, citing higher costs and weak consumer confidence.

Crest Nicholson, a UK housebuilder, reported a £144 million pre-tax loss for the year ending October 2024, marking a significant drop from its £23.1 million profit the previous year. The decline is attributed to higher fire remediation costs, slower-than-expected interest rate reductions, and subdued consumer confidence. Despite these challenges, CEO Martyn Clark is cautiously optimistic about future prospects, expecting profits to recover to between £28 million and £38 million in the current financial year. The company also faces potential risks to its loan terms due to a "severe but plausible" scenario.

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