Shares in retirement housebuilder McCarthy & Stone tumbled after it warned profits would slump this year because of economic uncertainty and weaker property prices and that its chief executive would retire in August.
Clive Fenton said he was stepping down as the company embarked on “a new strategy to carry it safely through the next five years and beyond” as it grapples with a proposed ban on ground rents and tough market conditions.
He added: "Having reached the age of 60, it is right that I now stand aside at the end of our financial year to enable a new chief executive to be responsible for this journey.”
By Jack Torrance.
Full story at Yahoo News.
No comments:
Post a Comment