Fletcher King lettings and sales impacted by Brexit uncertainties

24th May 2019 12:26

(Sharecast News) - Fund manager Fletcher King told investors on Friday that turnover and pre-tax profits for the year ended 30 April were likely to be similar to that of the previous trading year.However, looking forward, unprecedented political and Brexit uncertainties continued to severely impact lettings and sales in the UK property market, in which the company operates.As a result, Fletcher King warned that it was becoming "increasingly difficult" to assess the likely volume of its transactional business and its level of profitability.Fletcher King did note that it still believes its strong balance sheet and lack of debt was important in maintaining the AIM-listed firm's stability in "challenging times".As of 1305 BST, Fletcher King shares had slid 4.10% to 39.80p.