India, Sept. 3 -- UK housebuilder Crest Nicholson Holdings PLC (CRST.L) on Thursday lowered its full-year outlook, citing weaker-than-expected open-market demand and continued competitive pricing during the summer trading period.
The group now expects full-year EBIT to be a loss of around £10 million, compared with its previous forecast for a £5 million to £10 million profit. It also expects completions of 1,350 to 1,400, down from its previous guidance of 1,400 to 1,500.
Crest Nicholson said affordability constraints and competitive pricing continued to weigh on open-market sales. Its net open-market sales rate fell to 0.35 over the past six weeks, from 0.48 in the first half and 0.55 in the same period last year.
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