Crest Nicholson issues profit warning as lender talks slip

Crest Nicholson has issued a profit warning after weaker summer trading pushed the house builder from an expected profit into a forecast £10m operating loss.
The group had previously guided to EBIT profit of between £5m and £10m for the year.
It has also cut its completions forecast to 1,350-1,400 homes from 1,400-1,500 as affordability pressures and competitive pricing continue to hit sales.The warning came as Crest revealed talks with lenders over amendments to its banking co