McCarthy & Stone warns on profits

By Hamish Champ2018-06-19T09:22:00

Chief executive of retirement homes specialist to leave later this summer

Retirement homes specialist McCarthy & Stone has warned its operating profit for 2018 could be a third lower than last year, following a decline in both reservations and property prices.

In a trading update the group said it had seen a “noticeable decline” in reservation rates since April, with potential customers becoming more cautious due to economic worries, a slower secondary market and a softening of pricing, particularly in the South East.

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