Vistry shares crash
Vistry shares crash after disastrous profit warning on building costs
Shares in one of Britain’s biggest housebuilder Vistry crashed more than a third today after a disastrous profit warning over an extraordinary litany of cost overruns at several of its sites.
Vistry’s profit warning exposes faultlines in its partnership model
Vistry’s premium largely reflected its exposure to affordable housing, a key part of the new UK government’s mandate, and its capital-lite partnership model. But that model, whereby it effectively bulk sells homes to public and private sector institutions, also introduces vulnerabilities.
Vistry shares plunge after builder warns on profit
Vistry shares have plunged after the group said that nine housebuilding projects will cost more than forecast and profit will take hit.
UK homebuilder Vistry plunges on profit warning due to higher costs
British homebuilder Vistry cut its fiscal 2024 profit outlook by 80 million pounds ($104.7 million) on Tuesday, hurt by a one-off impact due to a revision in development costs in one of its divisions.
Vistry shares plunge after UK housebuilder issues profit warning
Vistry shares plunged by nearly a quarter on Tuesday after the housebuilder warned its full-year profits would be almost a fifth lower than expected because of an underestimation of building costs.
Vistry issues profit warning over build out costs at southern division
Vistry has issued a profit warning after discovering that build costs on nine schemes at its southern division have been under-estimated by around 10% This morning in a trading statement the firm said the impact was limited to nine schemes including some large developments out of 46 schemes being built by the southern division.
Vistry Shares Fall on Profit Warning, Guidance Cut -- Update
Shares in Vistry fell after the company cut guidance, warning that higher-than-expected costs at some of its property developments would weigh on its profit. Shares in London were down 361.50 pence, or 28%, at 911.50 pence.
Vistry shares in freefall after profit warning
Vistry warned on profits on Tuesday after the housebuilder underestimated build costs on nine schemes in its Southern Division.
UK's Vistry cuts FY24 profit outlook, shares tumble
Vistry, Britain's largest homebuilder by annual output, warned on its 2024 profit on Tuesday, hurt by increased build costs in one of its divisions, sending its shares sharply lower. Shares in the housebuilder fell about 32% to 870 pence,
More than £1bn wiped off housebuilder Vistry's value after profit warning
Vistry shares plummeted after the housebuilder issued a profit warning, which saw its market valuation drop by more than £1bn.
Vistry costings cock-up knocks £1bn off company value
News of the blunder sent Vistry’s share price down 35% from 1273 pence to 829.5 pence. It rallied to 963.5 pence by the end ...
UK's Vistry slashes FY24 profit outlook on revised costs
British homebuilder Vistry cut its fiscal 2024 profit outlook by 80 million pounds ($104.7 million) on Tuesday, hurt by a one ...
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British Equities Rebound with Real Estate Boost Amid Vistry Target Slash
British equities saw a significant rebound, driven by the real estate sector, despite ongoing declines in homebuilders like ...