McCarthy & Stone axes CEO and reviews strategy as profits disappoint

Retirement housebuilder McCarthy & Stone's chief executive has been pushed into early retirement of his own after the company issued a profit warning on Tuesday amid increased caution from potential customers. An anticipated strong spring selling season failed to materialise and the FTSE 250 company said it now forecast 2,100-2,300 sales for the financial year ending 31 August, from the 2,302 last year, meaning profits could fall between 17% to 32% to an expected operating profit range of ...

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