Glasgow housebuilder Mactaggart & Mickel Group reported a 68% plunge in profits after house prices and volumes fell.
But the family-owned firm pointed to growth in some areas three years after launching a "diversification strategy". It completed 110 homes in the year to April 30, 2012, down 24% on the previous 12 months, and the average price slipped 9% to £249,000. This was behind a 20% turnover dip from £48.1 million to £38.4m, with the housing arm seeing a 31% decline.
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