Build problems plunge Crest Nicholson to a £31m loss

The discovery of more build problems across legacy sites has blown a hole in Crest Nicholson’s latest results.
The house builder confirmed £15m of legacy contract problems in March at four jobs completed by its now closed Regeneration division.
But a wider review of jobs across the whole company has unearthed further problems resulting in the provision being increased to £31.4m.That has sent the company into the red with results for the half year to April 2024 showing a pre-tax