Shares in Bellway, the housebuilder, dropped by more than 5% after it said it would deliver "moderate volume growth" in the year ahead.
Its stock fell to £33.14 after it disclosed that its housing reservation rate in the period to 29 September was 4% ahead.
It said: "This, together with a strong forward order book, provides a solid platform from which to deliver further, yet more moderate volume growth in the year ahead, assuming market conditions remain supportive."
It also reported full-year figures, showing up 8.6% to £3.2bn as pre-tax profits grew by 3.4% to £662.6m in the 12 months to the end of July.
Bellway said that housing completions reached a record 10,892 homes.