Vistry Group slashes annual profit expectations and unveils cost-cutting plan after half-year losses
According to The Guardian Business, Vistry Group slashes its annual profit expectations after half-year losses, revealing a cost-cutting plan that includes job losses and aims to reduce private sales in south-east England as it tackles a £600m pile of unsold homes. Adam Daniel, the new chief executive of the Bovis Homes and Countryside owner, said that “the issues can be fixed.”
Key facts
- 01Adam Daniel is the new chief executive of the Bovis Homes and Countryside owner.
- 02Vistry plans to pull out of private sales in south-east England.
- 03Vistry aims to slim operations to become a more focused business.
- 04The company reported half-year losses and a £600m pile of unsold homes.
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- Housebuilder Vistry slashes profit forecasts as losses balloon · The Guardian Business