UPDATE 1 — UK's Vistry lowers profit view amid strategic overhaul
(Adds details on Vistry's strategic actions and annual profit expectations) Sept 24 (Reuters) — British homebuilder Vistry on Thursday lowered its annual profit expectations, as contract renegotiations, amid its turnaround plans, deferred deal completions. Under the leadership of CEO Adam Daniels, Vistry has been reshaping its portfolio, paring back its regional footprint and land acquisition targets as it grapples with debt further exacerbated by construction and labour costs and a slowdown in demand amid the Iran war. The company reduced fiscal 2026 adjusted profit before tax expectations to £165 million from previous forecast of £200 million, excluding charges related to the restructuring and £40 million impact from the delays in deals. (Reporting by Simone Lobo in Bengaluru; Editing by Ronojoy Mazumdar) ((Simone.Lobo@thomsonreuters.com, +919920570373)
(Adds details on Vistry's strategic actions and annual profit expectations) Sept 24 (Reuters) — British homebuilder Vistry on Thursday lowered its annual profit expectations, as contract renegotiations, amid its turnaround plans, deferred deal completions. Under the leadership of CEO Adam Daniels, Vistry has been reshaping its portfolio, paring back its regional footprint and land acquisition targets as it grapples with debt further exacerbated by construction and labour costs and a slowdown in demand amid the Iran war.
The company reduced fiscal 2026 adjusted profit before tax expectations to £165 million from previous forecast of £200 million, excluding charges related to the restructuring and £40 million impact from the delays in deals. com, +919920570373)