Soaring materials costs and shortages have combined with restrictions on on-site activity to push home builder Simonds Group to a pre-tax loss in the six months to December.
Victoria-based Simonds reported a pre-tax loss of $5.2 million after the market closed on Tuesday, down from a $1.2 million profit a year earlier as cost increases outstripped higher revenue.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
