Housing finance corporation houses for sale. [Photo/misterseed.com] Housing Finance (HF) Group Plc has issued a profit warning for the period that ended December 31, 2017, indicating that its full-year net profit will be lower by 25 percent than in 2016.The firm cited interest rates capping and unfavorable macroeconomic environment as the cause for the profit dip. The profit warning is a declaration issued to shareholders of listed companies through the stock exchange.It alerts them that in the coming quarter the company’s profit will significantly decline in comparison to a similar quarter of the previous year. HF Group Plc managing director Frank Ireri said interest rates capping and unfavorable macroeconomic environment which translated to a slowdown in major economic activities of the firm led to the decline in profit.“Interest rate capping and the introduction of a floor deposit rate following the Banking (Amendment) Act, 2016 affected our bottom line.However, he assured shareholders that HF Group Plc will invest in digital channels, increase provisions of affordable housing and focus on customer service and experience to drive its profitability. Profit warnings are a measure of performance against expectations: a stronger than expected global economic backdrop and falling forecasts have combined to significantly lower earnings.

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