PHOTO: John McGrath
Shares in the listed real estate agency McGrath Ltd are expected to come under pressure this week after the group issued another earnings downgrade, taking it into a deeper sea of red.
In a notice to the ASX at 5pm Friday night, the company chief executive Geoff Lucas, said the The Sydney electorates facing the biggest fall in house prices and pending federal election had created concern amongst home buyers, which have seen the sales of houses almost flat line.
McGrath shares last traded at 26¢, but are likely to open this week lower as investors digest the latest downgrade.
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