London-based housebuilder Mount Anvil has recommitted itself to working only in the capital after it saw its pre-tax profit drop by more than 80% in the 2020 calendar year after being hit by a series of problems on a project in Manchester.

The developer, which builds homes in joint venture partnerships with housing associations and funders, reported a pre-tax profit of £1.2m for 2020, down 82% on the £6.2m recorded in 2019.

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