Timber firm fears housing market will be hit by EU vote

A Scottish timber firm has warned that uncertainty triggered by the Brexit vote for the UK to leave the European Union may weigh on its business.
James Walker (Leith), whose interests include supplying timber to housebuilders and property development, said it remains well positioned but cautious for the year ahead.

In the Livingston-based group’s accounts directors wrote: “Uncertainty and dropping confidence resulting from the recent EU referendum result may have a detrimental effect on trading in the forthcoming period.”
They added: “Whilst the market for new-build residential properties is improving it remains fragile being assisted through government support. Within the building supply industry, caution is prevalent.”
Started in 1863, James Walker grew net assets to £95.3 million in the year to March 31, from £87m at the preceding year end.
Original link - www.scottishconstructionnow.com

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