Subdued market impacts McCarthy & Stone profits

Pre-tax profit has fallen 37% to £58m (2017: £92m) at McCarthy & Stone as build cost increases and subdued market conditions impacted the retirement housebuilder. Its full year results showed that revenue in the year ended 31 August 2018 rose by 2% to £672m (2017: £661m), while underlying operating profit fell 30% to £68m (2017: £96m)…

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