StockMarketWire.com - Housebuilder Inland Homes swung to a loss on lower-than-expected sales as lockdown restrictions hurt activity.

For the six-month period ended 31 March 2020, the company reported a pre-tax loss of £7.2m, compared with a profit of £5.5m reported on 31 December 2018, while revenue rose to £59.6m from £51.0m.

EPRA net asset value increased to 109.30p from 103.57p reported on 31 December 2018.

Following the imposition of lockdown restrictions, the company lost five significant property transactions. leading to 'substantially' lower than anticipated first-half revenues, Inland Homes said.

Private home sales fell to 56 from 79 private homes, excluding joint ventures, realising £13.8m, down from £18.6m.

'Whilst it is too early to restore guidance, the underlying resilience and quality of the business gives the board confidence that the Group will weather the continued uncertainty in a recovering market environment,' the company said.




At 9:41am: [LON:INL] Inland Homes PLC share price was -1.5p at 47.5p



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