Mixed numbers at building firm

Retirement flats builder Mccarthy & Stone saw profits tumble in the first half as it was stung by exceptional costs linked to a strategy shift.

Bottom-line, pre-tax profit decreased 66 per cent to £3.6 million in the six months to 28 February, as the firm booked £14m in charges. Revenue rose 17 per cent to £280.5m, but the forward order book is 17 per cent behind last year at £485m.