Profit at builders merchant Travis Perkins will fall by as much as £65m this year as construction continues to slow.
The expectation had been that the firm would turn a profit of about £240m this year, but it warned yesterday that its outturn for the year would now be between £175m and £195m.
It said that, in response to rising mortgage rates curtailing demand for new-build houses, developers are not building as many homes as they were.
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Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
