Crest Nicholson's Decision to Turn Down Bellway's Offer & Profit Warning Impact
Thursday, 13 June 2024, 21:03
Crest Nicholson Rejects £650m Bellway Offer Amid Profit Warning
Crest Nicholson has declined Bellway's £650m offer, attributing the decision to weakened home demand and mortgage rate volatility.
Profit Warning Highlights Challenges Ahead
The company warns of lower-than-expected profits, signaling potential obstacles in the housing market and raising concerns among investors.
Key Points:
- Profit Warning: Crest Nicholson anticipates lower profits due to market volatility.
- Home Demand: Weakened demand and uncertain mortgage rates impact the company's decisions.
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