FURLONG HOMES, the only housebuilder listed on the Alternative Investment Market, saw pre-tax profit fall 43% to £887 000 for the six months ending 30 June 1999.

Turnover was up 12.6% to £13m. Chief executive Andrew Wiseman said that because the London-based group pre-sells almost all its houses, the benefits of house price inflation would not show up until the year-end figures. He predicted a record second half. Wiseman added that he would like to see some heat taken out of the strong London market.