Key Points – 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…
rategy, 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
Daniels, who became chief executive on April 13, told investors that Vistry remains committed to its partnership strategy but needs to operate with “a much lower average net debt” than in prior years. He said the company is treating 2026 as a transition year as it works through a broader CEO review, with a fuller update planned for Sept. 24 alongside half-year results. “What I have observed during the first three months in this role is the business that is absolutely capable of delivering the capital light, cash generative, profitable outcomes that we expected when we moved across to the partnership strategy,” Daniels said. “That said, it is clear that we have taken some missteps during that time.” First-half profit hit by debt-reduction actions Vistry expects to deliver a modest first-half profit before tax of GBP 20 million excluding the impact of specific debt-reduction actions and any measures related to the CEO review. Those cash-generation actions had an adverse impact of about GBP 50…