Cost ManagementCost understatement problem has worsened, from £115m to £165m.
Financial PerformanceVistry has cut its 2024 PBT guidance from £350m PBT to £300m due to further cost under-recording issues in the South Division and as it cuts volume guidance for 2024 from 18,000 to 17,500.
Regulatory RiskVistry also has a relatively high cladding exposure, and more bad news is expected from the government.