<p><span>Crest Nicholson has issued a profit warning for its full year, citing difficult market conditions, while issuing an update on its business strategy.</span></p> <p><span>The housebuilder said that during the second half of FY 2019, it had experienced “a more volatile sales environment” in some of its regional businesses - with the greatest impact felt in its legacy London sites – governed by shaky consumer confidence related to Brexit uncertainty.</span></p> <p><span>Crest is therefore anticipating pre-tax profit for the full year to be around £120 million - £130 million, compared to the £176.4 million of FY 2018.</span></p> <p><span>“In addition to this,” Crest’s statement read, “the leadership team has also considered the latest government guidance notes in respect of combustible materials, fire risk and protection and regulatory compliance on completed developments. As a result, it is considered it appropriate to record an exceptional charge in the year of approximately £17 million."</span></p> <p><span>Against a backdrop of continuing political and economic uncertainty, Crest added that it expected consumer confidence and open market sales rates to remain affected.</span></p> <p><span>Looking ahead, it anticipates FY 2020 pre-tax profit (excluding exceptional charges) to range from £110 million – £120 million, while predicting strong profit growth the following year and …