Vistry Group PLC (BVHMF)
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Vistry hopes not high after trio of profit warnings
Vistry Group PLC (LSE:VTY) has had a miserable three months with a trio of profit warnings knocking two-thirds off its market value. Moreover, analysts are not certain all the bad news is out yet.
Vistry a 'sell', says leading investment bank as it cuts its price target
UBS has lowered its price target for Vistry Group PLC (LSE:VTY) to 495p from 605p, maintaining a sell rating after the company issued its third profit warning in as many months. The cut reflects concerns about Vistry's financial outlook and its ability to recover amid rapidly falling profits and rising debt levels.
Vistry issues third profit warning following housing contract delays
Vistry Group PLC (LSE:VTY) has issued its third profit warning this year with the problems this time related to delays to completions and signing off transactions. The housebuilder had already cut guidance twice due to cost overruns in its south division but reduced it by another £50 million today due to the delays.
Vistry, Persimmon and other housebuilders hit by cladding tax report
Shares in housebuilders Persimmon PLC (LSE:PSN), Vistry Group PLC (LSE:VTY) and Taylor Wimpey PLC (LSE:TW.) fell after reports emerged that the industry could be hit by new taxes and levvies.
Vistry falls to one-year low after removing COO role on back of cost overruns
Shares in Vistry Group PLC (LSE:VTY) fell to a new 12-month low after announcing that its operations chief is leaving the business as it rejigs the board after its embarrassing double profit warning due to cost overruns. The FTSE 100-listed builder said Earl Sibley is stepping down from the board with immediate effect and will get his P45 at the end of the year, after almost a decade with the business.
Vistry target cut after latest cost update highlights more issues
Vistry Group PLC (LSE:VTY) latest update pointed to issues other than just cost overruns in its southern division, notes Deutsche Bank. In addition, Vistry stated trading in the partner market has been slower than expected and cost inflation is starting to emerge.
Vistry Group PLC (BVHMF) Q3 2024 Earnings Call Transcript
Vistry Group PLC (OTCPK:BVHMF) Q3 2024 Earnings Conference Call November 8, 2024 3:30 AM ET Company Participants Greg Fitzgerald – Chief Executive Officer Tim Lawler – Chief Financial Officer Stephen Teagle - Chief Executive, Partnerships and Regeneration Conference Call Participants Aynsley Lammin - Investec Charlie Campbell - Stifel Will Jones - Redburn Atlantic Emily Biddulph - Barclays Chris Millington - Deutsche Bank Gregor Kuglitsch - UBS Alastair Stewart - Progressive Equity Research Ami Galla - Citigroup Harry Goad - Berenberg Clyde Lewis - Peel Hunt Operator Hello, and welcome to the Vistry Trading Update Conference Call hosted by CEO, Greg Fitzgerald and CFO, Tim Lawler. My name is Alex, and I'll be coordinating the call today.
Vistry, Serco latest to warn on Budget national insurance hit
Vistry Group PLC (LSE:VTY) and Serco Group PLC (LSE:SRP) on Friday joined the growing list of businesses warning over a surge in costs due to higher taxes following last month's Budget. Outsourcing firm Serco signalled in an update on Friday that higher employer national insurance contributions (NIC) would cost its £20 million.
Vistry slumps as understated build costs to be higher than first thought
Vistry Group PLC (LSE:VTY) shares fell over 14% on Friday after it warned a hit to profits from understated build costs in its South division will be greater than first thought. A review into the issues found profit would be impacted by a further £25 million this year, £20 million next and £5 million in 2026, taking the total impact to £165 million.
Vistry and British Airways owner IAG round off the week
Vistry tomorrow ends a mixed week of the housebuilding sector while headwinds have been building for British Airways owner IAG and its clutch of airline assets
Vistry shares under pressure once more as Deutsche cuts targets
Vistry Group PLC (LSE:VTY) came under further pressure on Wednesday as the housebuilder faced a share price target downgrade by Deutsche Bank. Shares in the housebuilder had tanked on Tuesday after it warned profits would be lower over the next three years due to an underestimation of building costs.
Tense wait for Vistry investors over fear of 'systemic' problem - analysts
Whether the sharp subsidence in Vistry Group PLC (LSE:VTY) shares today is sustained depends on whether its warnings about cost overruns are due to wider problems with the housebuilder's business model or are just an isolated incident. The FTSE 100 group saw its shares plunge by a third this morning after it issued a major profit warning, detailing how the "total full-life cost projections" to build nine housing developments in its South division had been "understated", which is expected to reduce profit before tax by £80 million this year and £30 million in 2025.
