Business
Capital Markets Day
Capital Markets Day.
About this update from Crest Nicholson Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5811P\n Crest Nicholson Holdings PLC\n 20 October 2021\n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of the\nMarket Abuse Regulation (EU) No. 596/2014 as it forms part of domestic law by virtue of the\nEuropean Union (Withdrawal) Act 2018.\n \n \n \n \n \n Crest Nicholson Holdings plc\n \n \n CAPITAL MARKETS DAY - READY FOR GROWTH\n \n \n GEOGRAPHICAL EXPANSION TO CREATE SIGNFICANT SHAREHOLDER VALUE \n \n \n STRONG EARNINGS ACCRETION TO BE DELIVERED FROM ENLARGED GROUP\n \n \n NEW CLIMATE CHANGE TARGETS\n \n \n \n Crest Nicholson Holdings plc ('Crest Nicholson', or the 'Group') is hosting an investor and analyst event today which will include a site visit and a series of presentations from management. \n \n \n The Group has successfully completed a turnaround of its financial and operational performance. It has established a strong operating platform and has assembled an experienced leadership team to deliver the next phase of growth. The Group has introduced a new house type range, achieved a five-star customer satisfaction rating and built upon its commitment to placemaking and build quality. At the same time a strong focus on operational efficiency, cash flow generation and a disciplined approach to capital allocation has transformed the balance sheet.\n \n \n Given the significant and rapid progress made in financial and operational performance and building on the foundations of a strong balance sheet, the Group is now outlining an ambitious growth strategy which will see it expand into new geographies.\n \n \n To help guide understanding of how we will deliver our plans, the Group is today pleased to announce the following medium term targets:\n \n \n · \n A two-phase plan \n \n \n - Phase one: gross margin rate accretion and volume growth from existing divisions (FY22-FY24)\n \n \n - Phase two: volume growth from the three new divisions (FY24-FY26)\n \n \n \n \n \n Medium term targets \n \n \n \n \n FY24\n \n \n \n \n FY26\n \n \n \n \n \n \n Home completions (units)\n \n \n \n \n In excess of 3,000\n \n \n \n \n In excess of 4,200\n \n \n \n \n \n \n Divisions\n \n \n \n \n 5+\n \n \n \n \n 8\n \n \n \n \n \n \n Operating profit margins \n \n \n \n \n 18-20%\n \n \n \n \n \n \n Return on capital employed \n \n \n \n \...