Purplebricks’ shares crash after warning on revenues
Shares in Purplebricks crashed 35% when the stock market opened on Thursday morning, wiping more than £150m off the company's value.
The share price briefly dropped below 100p, which was the price it floated at in December 2015, before recovering some ground to close at 125p.
The online estate agent had earlier revealed its international businesses were underperforming, causing the group to reduce its revenue guidance by £35m and now expects it to be between £130m-£140m.
Thursday's slump continued an 18-month decline in t... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
