Vistry slumps as understated build costs to be higher than first thought
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Vistry Group PLC shares fell over 14% due to higher than expected understated build costs in its South division, impacting profits by an additional £25 million this year, £20 million next year, and £5 million in 2026, totaling £165 million.
November 08, 2024 | 8:30 am
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Vistry Group's understated build costs in its South division will impact profits by an additional £165 million over the next few years, causing a 14% drop in share price.
The news directly affects Vistry Group's financial performance, with a significant impact on profits due to understated build costs. This has led to a sharp decline in share price, indicating a negative short-term impact.
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