U+I Group has suffered one of the steepest declines among London’s listed real estate companies today, after disclosing significant losses at the half-year mark as well as a host of strategic changes.
The regeneration developer’s stock fell by 7.7% to 67.4p after it posted a £50m interim loss. The developer has launched a 100-day strategic review led by new chief executive Richard Upton, who replaces Matthew Weiner in the role with immediate effect.
It has reversed gains made last night, when its share price soared to a five-month high to close at 73p.
Elsewhere, notable real estate risers on the stock exchange included Savills, which posted a 2.8% increase to 1,056p.
The FTSE 100 closed in the red, slipping by 0.1% to end the day at 6,712 points. The FTSE 250 was down 0.2% at 20,602 points.
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