UK housebuilder Redrow said it expected profits and revenue to halve next year as the housing market laboured amid higher borrowing and challenging conditions, with the company's weekly sales slumping over the summer.
FTSE 100 closes down 2 points at 7,526 UK economy contracts more than expected in July Aviva sales raises hopes of shareholder returns 4:40pm: FTSE 100 ebbs.
Redrow PLC on Wednesday reported a surge in annual profit, but said it expects a plunge in revenue and profit in its next financial year.
The Ewloe, Wales-based housebuilder said pretax profit in.