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Vistry Group expects a first-half loss before tax of about GBP 30 million after actions to reduce debt, but it is still holding its full-year adjusted profit guidance at around GBP 200 million.
New CEO Adam Daniels said the company will keep its partnership strategy, but it needs to run with much lower leverage and is reviewing operations, geography, land holdings, and overheads to make the business more capital efficient.
Despite weaker market conditions, Vistry expects a stronger second half with significant debt reduction and a year-end cash position above GBP 100 million; management also said banking relationships remain solid and there is no expectation of a covenant breach.
Vistry Group (LON:VTY) said it expects a first-half loss before tax of about GBP 30 million after cash-generation actions, while maintaining full-year adjusted profit guidance of around GBP 200 million and outlining plans to reduce leverage under new Chief Executive Adam Daniels.
Vistry Group expects a first-half loss before tax of about GBP 30 million after actions to reduce debt, but it is still holding its full-year adjusted profit guidance at around GBP 200 million.
New CEO Adam Daniels said the company will keep its partnership strategy, but it needs to run with much lower leverage and is reviewing operations, geography, land holdings, and overheads to make the business more capital efficient.
Despite weaker market conditions, Vistry expects a stronger second half with significant debt reduction and a year-end cash position above GBP 100 million; management also said banking relationships remain solid and there is no expectation of a covenant breach.
Vistry Group (LON:VTY) said it expects a first-half loss before tax of about GBP 30 million after cash-generation actions, while maintaining full-year adjusted profit guidance of around GBP 200 million and outlining plans to reduce leverage under new Chief Executive Adam Daniels.
4 months ago
