Vistry Group Stock News

UK's Vistry starts cutting jobs as part of restructuring

UK's Vistry said on ​Tuesday ‌that Helen ​Miles, ​the current chief ⁠financial ​officer ​of water utility ​Severn ​Trent , would take ‌over ⁠as the homebuilder's ​finance ​head ⁠in ​2027.

UK housebuilders face weak demand and rising cost pressures, RBC said, although the broker expects ‘Your First Home' to significantly boost newbuild sales. RBC's tracker puts five-year fixed mortgage rates at 5.3% for first-time buyers borrowing 75% of a property's value, up 20 basis points from April's 5.1% post-Iran peak.

Housebuilder Vistry Group PLC (LSE:VTY) shares fell 6% to 251.40p after it cut its full-year profit outlook and lowered its year-end cash forecast. Vistry reduced its 2026 profit outlook by £40 million as it removed partner deals from this year's plans to allow renegotiation under stricter criteria.

Vistry Group PLC (LSE:VTY) swung to a substantial first-half loss as the housebuilder unveiled plans to shrink the business, cut costs and reduce debt following a wide-ranging strategic review. Reported loss before tax for the six months to June was £661.3 million, compared with a £40.9 million profit a year earlier, reflecting a £475 million goodwill impairment and an additional £73.2 million ...

RBC Capital Markets has maintained its 'underperform' rating on Vistry Group PLC (LSE:VTY), the housebuilder, with a price target of 180p, compared with a share price of 271.60p. Analyst Anthony Codling said Vistry's half-year results next Thursday would be the "warm-up act" for new chief executive Adam Daniels's strategic review.

Vistry Group PLC (LSE:VTY), the housebuilder, saw its shares rise 15% to 308p on Tuesday after it secured the largest possible direct grant award under the first allocation of the government's £39 billion Social and Affordable Homes Programme. The stock hit an intraday high of 308 pence, up from Monday's close of 268.60 pence, after opening at 282 pence.