Crest Nicholson • Integrated Report • Performance

• Value creation

Key observations:

Crest Nicholson clearly identifies and concisely describes in its 2016 report the extent to which it has achieved its strategic objectives for the year  (International <IR> Framework, para. 4.30). In particular, after having outlined the five pillars it relies on to ‘stay ahead in a cyclical market’ (p.15), the ‘Performance against strategy’ section of the report (pp.22-42) presents the results obtained for each of the strategic objectives by the use of narrative and KPIs (International <IR> Framework, para. 4.31). In addition, case studies provide further insight into the ability of the company to create value.