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McCarthy & Stone - CEO retires on a profit shocker...blaming Brexit 'natch

2018-06-19 01:55:24

I was just reminding myself via the interweb of the chat around McCarthy & Stone (MCS)’s return to the stock market back in November 2015. This was from a press article at the time of the IPO: 'Britain’s biggest builder of homes for retired people, said its London debut had been priced at 180 pence per share, valuing the business at 967 million pounds. Shares in the company rose 13.5 percent to 204.21 pence in conditional trading on Friday as investors bet on further gains in the UK’s strong residential property market'. Well...how could it have gone so wrong, with the shares down 15% as I write at around 110p?

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