It’s far from a pretty picture this morning for Vistry but there are signs of life – management is reducing debt, sticking to profit guidance and has the opportunity to boost growth through its new joint venture with Homes England.
There’s no getting round a dive in profits and a string of negative numbers across the board, though.
Vistry’s been a real FTSE 250 laggard since 2024 and we’re still seeing the bleak effects of a series of profit warnings, which have punished the company badly.
Sticking to profit guidance, which includes a goal to top last year, will be the first sign the corner has been turned but, given a shaky history in this regard, it might be a case of seeing is believing.
If the sector sees support diminish in the wake of the cabinet reshuffle, it’ll have even less scaffolding to help it get back on its feet. It means a refocused C-suite needs to take more of the company’s destiny into its own hands, boost returns on capital employed and build back margins where it can.
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