Cost ManagementCost understatement problem has worsened, from £115m to £165m.
Market OutlookVistry expects to improve profit and cash flow in 2025, consistent with market expectations, but offers a subdued view of end markets in 2025.
Profitability ConcernsVistry 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.