Crest Nicholson Holdings plc has provided a trading update, stating that the adjusted profit before tax for FY23 is now expected to be around £50.0m. The housing market has faced challenges due to high inflation, rising interest rates, and economic uncertainty, which has deterred prospective home movers. Transaction levels have weakened, and the Group does not anticipate a material improvement in trading conditions before the end of October 2023. The Group is negotiating bulk deals with partners to support volume delivery in future years. Additionally, there has been a £4.0m cost movement at the Brightwells Yard site. Management is responding proactively by reducing the Group's overhead position and incorporating the East Anglia division into the existing Eastern division. The Board remains committed to the FY23 dividend of 17.0 pence per share. Despite the current challenges, the Board remains positive about the outlook for Crest Nicholson, expecting inflation to abate and mortgage rates to reduce in the medium term. The Group has a strong financial position and an experienced leadership team. The Group now expects FY23 Adjusted Profit Before Tax to be around £50.0m.