An online estate agency has said that its chief executives in the United States and Britain are leaving and its overseas expansion is performing worse than expected, sending its shares down by almost a quarter.
In an unscheduled trading update, Purplebricks said that it expected full-year revenue to be between £130m and £140m, against its previous forecast of between £165m and £175m. The shares fell by 39½p, or 24.1 per cent, to 125p in London.
The company cited lower-than-expected activity in the US and Australia as the reason for cutting its forecast.
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