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Artisan (UK)

  • BY: Andrew Hore |
  • POSTED: 11/11/2008 |

Housebuilder and commercial property developer Artisan (UK) says it is likely to suffer from reduced volumes for the short-term.

It even believes that it could last through until the end of the financial year in June 2009.

The shares fell 3.5p to 26.5p each, which values Artisan at £2.18m.

Artisan is reducing its overheads and reducing its building activity. It is also cutting prices to achieve sales. No land is being bought but Artisan is still purchasing options over land and trying to be in a strong position when the market improves.

There are signs that there could be improved demand for commercial units over the next year.

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