April 10, 2019 / 6:27 AM / 15 days ago

McCarthy & Stone says orders, first-half profit drops

April 10 (Reuters) - Retirement homebuilder McCarthy & Stone said on Wednesday its orders as of April was 17 percent behind last year and it posted a 66 percent drop in pretax profit for the first half of 2019.

The UK’s biggest builder of homes for retirees said first-half pretax profit fell to 3.6 million pounds from 10.5 million pounds ($13.72 million) last year, bogged down by lower margins and higher costs. ($1 = 0.7655 pounds) (Reporting by Justin George Varghese in Bengaluru; Editing by Arun Koyyur)

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