June 24, 2020 / 6:33 AM / 18 days ago

Crest Nicholson forecasts steep fall in annual profit as pandemic hits

June 24 (Reuters) - British homebuilder Crest Nicholson on Wednesday posted a first-half pretax loss, citing political uncertainty and coronavirus disruptions, and said it expects annual adjusted pretax profit to fall around 60% to 70% for the full year.

The company, which builds houses and flats across the southern half of England and the Midlands, reported first-half pretax loss of 51.2 million pounds ($64.04 million), compared with a profit of 64.4 million pounds last year.

Crest expects adjusted pretax profit for the year to be between 35 million pounds to 45 million pounds, against 121.1 million pounds reported in 2019. ($1 = 0.7996 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Ramakrishnan M.)

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