Telford Homes shares drop after Brexit worries weaken sales

London-focused property developer Telford Homes saw its shares nosedive on Wednesday after it warned that mounting “negative commentary” around Brexit had led to a slump in demand for homes in the capital.

Jon Di Stefano, chief executive, said while the Aim-listed company’s long-term plans were on track, “in the meantime we’ve got a period of time where there’s a lot more uncertainty and less transactions actually taking place while everybody tries to figure out what Brexit actually means for them”.

The company’s shares plunged by as much as 15% in early trading before settling at around 365p around lunchtime, down 7.5%.

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