McCarthy & Stone’s share price rose 0.95% on Wednesday to 127.5p despite half-year results revealing a 66% fall in pre-tax profit.
The group said pre-tax profit had been hit by £14m of exceptional costs incurred in relation to the delivery of the group’s new strategy, which it launched a year ago before issuing a profit warning in June. Underlying operating profit, however, increased by 47% to £21m.
You must be logged in to view premium stories.
Take out a print and online or online only subscription and you will get immediate access to:
To get access to premium content subscribe today
Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts