Retirement housebuilder McCarthy & Stone has fallen into the red following months of disruption from the coronavirus pandemic.
The company closed sales offices and sites under construction from mid-March and only started to reopen them from June.
That followed some buyer uncertainty late last year ahead of the December general election.
It completed sales or rental deals on 471 homes in the six months to April 30, down from 845 in the first half of 2019.
McCarthy & Stone, which specialises in land buying, developing, selling and managing homes, recorded an underlying pre-tax loss of £26.9 million, compared with a £18.9 million profit last year.
Revenue slumped 64% to £101.1 million. The firm, led by John Tonkiss, said: “While we are past the peak of the crisis, the financial effect will be weighted towards H2.”
McCarthy & Stone added: “Beyond Covid-19, we see exciting opportunities due to our unique proposition and strong brand, enhanced by recent Government policy announcements on stamp duty, planning and adult social care reform.”
