McCarthy & Stone, which specialises in housing for retirees, has said its sales completions fell in the year ended August 31, down from 2,302 units to 2,134 units. The firm put this down to economic uncertainty, and falling prices in some of its key sales regions, particularly the South. The housebuilder’s operating profit is likely to come in between £65 million and £73 million, compared with £96 million the year before. Full-year revenue will rise to about £670 million, up from £661 million in the prior year. Shares in the retirement housing group tumbled after it said its profits would be lower than expected due to the slowdown in sales reservations.

Source: Irish Independent September 06, 2018 09:22 UTC