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Vistry Group ( (GB:VTY) ) just unveiled an announcement.
Vistry Group PLC has revised its expected adjusted profit before tax for FY24 to approximately £250 million, down from the previous guidance of around £300 million. This adjustment is due to delays in year-end transactions and completions, with some agreements now expected to conclude in FY25. The company has also opted not to proceed with certain transactions, anticipating better terms in the coming year. Despite these challenges, Vistry has completed over 70 Partner Funded transactions with 35 partners. The company anticipates closing net debt to be around £200 million due to delayed income. Vistry remains focused on building high-quality homes and is committed to its partnership housing strategy to enhance profitability and address the housing shortage.
More about Vistry Group
Vistry Group PLC operates in the residential construction industry, focusing on building mixed tenure new homes for partners such as Registered Providers, Local Authorities, and PRS providers. The company is committed to addressing the acute housing shortage in the country through its partnership housing strategy.
YTD Price Performance: -28.17%
Average Trading Volume: 3,000,471
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £2.17B
Find detailed analytics on VTY stock on TipRanks’ Stock Analysis page.
