UK homebuilder Vistry forecasts first-half loss, CFO departs for role elsewhere
Vistry's Financial Outlook and Leadership Changes
First-Half Loss Projection
July 8 (Reuters) - Britain's largest affordable housing builder Vistry said on Wednesday it expects to report a pre-tax loss of £30 million ($40.06 million) for the first half of fiscal 2026, and also said that Chief Financial Officer Tim Lawlor will be leaving the role for another company.
Strategic Review and Construction Slowdown
The builder had warned about lower full year profits in May and said it is slowing its pace of construction as new CEO Adam Daniels, who took the helm three months ago, conducts a strategic review following months of subdued demand.
CFO Tim Lawlor's Departure
Lawlor, who took over as Vistry's finance chief in 2022, will remain until October. Vistry said he is joining a large privately-owned business in a different sector.
Full-Year Profit Expectations
The builder expects to report adjusted profit for the year ending December 2026 at £200 million, in line with analyst estimates, according to a company compiled consensus.
Currency Exchange Rate
($1 = £0.7488)
Reporting Credits
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Nivedita Bhattacharjee)
