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Crest Nicholson reports lower annual profit, reaffirms 2020 forecast

Jan 28 (Reuters) - British housebuilder Crest Nicholson Holdings Plc on Tuesday reported lower annual pretax profit, hurt by lagging sales because of weaker consumer confidence.

The company, however, said Prime Minister Boris Johnson's sweeping victory in the December elections should provide support for the sector in the near term as the builder reiterated its fiscal 2020 profit expectations of 110 million pounds ($144.58 million) to 120 million pounds. ($1 = 0.7608 pounds) (Reporting by Samantha Machado in Bengaluru; Editing by Bernard Orr)