Shares in London-focused housebuilder Telford Homes slumped 14 per cent to £3.33 in early trading today after it warned profits in the first half of the year would be lower than the second half of 2019.
The group also blamed Brexit, saying customers “there has been an increasing amount of negative commentary” around Brexit, which led to a downturn in the market for expensive homes in London.
“This is not expected to get any easier in the short term as negative sentiment is leading customers to take a ‘wait and see’ approach or to look for more significant price reductions to offset a perception of higher risk as Brexit gets closer,” Telford added.
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