Purplebricks shares plunge into shock of sales prospects

Shares of Purplebricks were down after lowering their sales forecasts and announcing the departure of two senior executives.

The company expects a turnover of between 130 and 140 million pounds for the current fiscal year. His previous predictions ranged from £ 165m to £ 175m.

Purplebricks has blamed the UK housing market "hard" and "headwinds" for its Australian business.

The leaders of British and American companies will both leave.

British boss Lee Wainwright leaves for "personal reasons". No reason was given for the departure of Eric Eckardt, general manager of the US division.

Purplebricks shares fell sharply on news, falling as much as 40% before recovering.