One of the firms involved in building the huge new town at Sherford near Plymouth [and Cranbrook] has issued a profit warning causing concern that the construction sector is in decline
Bovis Homes, one of Britain’s biggest housebuilders, is part of the Sherford Consortium alongside Linden Homes, and Taylor Woodrow [as in Cranbrook].
… The announcement, which preceded a 4.8 per cent fall in the Bovis Homes share price, was seen by analysts as a blow for the construction sector as it heads into 2017.
Bovis Homes denied the slowdown was due to any Brexit effect following the UK’s referendum decision to leave the EU.
… But completions in the second half of 2016 fell by one per cent to two per cent, year-on-year.
Meanwhile, GDP data has shown that construction generally is now in a “technical recession” with output down 1.1 per cent in Q3 2016. … “