Crest Nicholson 2017 full year results
· Sales, including those from joint ventures, of £1,065.6m (2016: £1,000.3m) - up 7%
· Statutory revenue of £1,043.2m (2016: £997.0m) up 5%
· Volumes up 2% at 2,935 homes (2016: 2,870)
· Pre-tax profit up 6% to £207.0m (2016: £195.0m)
· Operating profit margin of 20.3% (2016: 20.4%)
· Return on capital employed decreased slightly to 29.7% (2016: 31.3%)
· Net cash at year-end of £33.2m (2016: £77.0m)
· Gross development value of land pipelines up 10.2% to £11,736m (2016: £10,646m)
· Forward sales at mid-January of £575.7m (2016: £533.5m), 8% ahead of prior year
· Outlets increased 9% to 51 (2016: 47)
· Total dividend of 33.0p up 20% and covered 2x by earnings (2016: 27.6p and 2.25x cover)
· Targeting to deliver £1.4bn sales by 2019
