McCarthy & Stone shares rise despite profit fall


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.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Register for free to finish this article.

Sign up now for the following benefits:

  • Four FREE articles of your choice per month
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article REGISTER NOW

Would you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.

Registered users and subscribers SIGN IN here to continue