UK Housebuilder Vistry Warns of Significant Profit Drop
UK housebuilder Vistry has issued a warning that its half-year profits will be significantly lower than expected, citing uncertainty related to the Iran war as a contributing factor.
The Story
Analyzing sources…
Source Diversity
Source Diversity
Low (19/100)Sources
UK housebuilder Vistry warns of ‘significantly’ lower profits amid Iran war uncertainty
Bovis Homes owner’s shares plunged 10.5% after it was forced to cut prices as buyers become cautious One of the UK’s biggest housebuilders has said its profits will be “significantly” lower, as it was forced to cut prices after heightened uncertainty caused by the US-Israeli war on Iran. Vistry’s shares plunged 10.5% in early trading on Wednesday, hitting their lowest level in nearly 15 years, as it told shareholders its first-half profits would be hit by the fallout from the Middle East conf...
By Kalyeena Makortoff Banking correspondent
Read full article →Vistry cautions over steep fall in half-year profits
The housebuilder is also seeing materials and labour costs rise as the Middle East conflict takes its toll on the sector.
By Holly Williams
Read full article →
