Crest Nicholson has delayed its half year results as it continues discussions with lenders to seek a temporary covenant relaxation. In its trading update of April 21, the housebuilder said it was in early talks with lenders on relaxing its covenant due to “lower expected profitability” driven by the Middle East conflict. Crest also said in its update of last month that volumes were expected to be lower for its financial year ending in October, set to total 1,400 to 1,500 units instead of the originally anticipated 1,550 to 1,700.