Vistry swings to £661 million loss as housebuilder unveils major restructuring

Retail & Consumer Builders And Building Materials Written by: Ephrem Joseph 02:25 Thu 24 Sep 2026 --> Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Ephrem Joseph Ephrem began his journalistic journey at Proactive in June 2021. With a strong academic background in Information Technology, his expertise particularly lies in the field of Cyber Security, Management Information Systems and Computer Forensics. Before joining Proactive, Ephrem worked as a researcher and lecturer at a number of leading universities, including the University of Portsmouth's Institute of Criminal Justice Studies, the University of Winchester’s Institute of Policing, and Jain... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Vistry Group PLC ( LSE:VTY ) View Price & Profile Vistry swings to £661 million loss as housebuilder unveils major restructuring Published: 02:25 24 Sep 2026 EDT Vistry Group PLC (LSE:VTY) swung to a substantial first-half loss as the housebuilder unveiled plans to shrink the business, cut costs and reduce debt following a wide-ranging strategic review. Reported loss before tax for the six months to June was £661.3 million, compared with a £40.9 million profit a year earlier, reflecting a £475 million goodwill impairment and an additional £73.2 million building safety charge. On an adjusted basis, the group recorded an £83.3 million loss before tax versus an £80.6 million profit previously. Adjusted revenue fell 9% to £1.70 billion as completions declined 8% to 6,304 homes, while net debt increased to £468.8 million from £293.1 million. Chief executive Adam Daniels’ review concluded that Vistry should become a smaller and more focused mixed-tenure housebuilder, targeting around 12,000 completions annually and reducing its operating regions from 25 to 12. The company plans to exit open-market exposure in the South East, reduce its owned land bank and increase its focus on the North, Midlands and West. It identified a further £50 million of annual overhead savings, on top of £25 million previously announced. Vistry expects strategic actions linked to the review to have an approximately £470 million full-year impact, alongside a £40 million reduction in expected year-end profit after several partner deals were pushed back for renegotiation. Excluding those items, adjusted profit before tax is expected to be around £165 million. For 2027, the group expects adjusted profit before tax of about £185 million, assuming broadly stable market conditions. Continue reading