October 31, 2019 / 7:30 AM / a month ago

CORRECTED-UK homebuilder Crest Nicholson rejigs profit forecast under new CEO

(Corrects 3rd paragraph to ‘profit’, not ‘revenue’)

Oct 31 (Reuters) - Crest Nicholson Holdings Plc on Thursday updated its profit forecast for the full year as its new chief executive officer reviews the business and the British homebuilder’s strategy to cope with Brexit.

The company now expects a fiscal 2019 pre-tax profit of between 120 million pounds ($155.21 million) and 130 million pounds. It also expects to take a take a 17 million pounds charge in the current financial year.

Crest, which builds houses and flats in London and across England’s southern half, said it expects fiscal 2020 profit to be lower than 2019. ($1 = 0.7732 pounds) (Reporting by Pushkala Aripaka in Bengaluru; Editing by Shounak Dasgupta)

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