Crest Nicholson home sales down in commercial strategy

Housebuilder Crest Nicholson has seen home sales decline as it focuses on releasing cash through land sales, commercial activity and joint ventures. The company reported a 4% decline in residential sales, but an uptick in partnerships and commercial activity driving growth, in a trading update for the six months ended 30 April 2019. Residential sales to date and forward sold for the 2019 financial year stood at £715m, compared to £745m for the same period in 2018. Commercial deals and joint ventures delivered £77m in revenue for the full year, five times the £15m generated the previous year. Revenue to