Corrected: BRIEF-Vistry Sees FY27 APBT Around £185 Mln
CORRECTED-BRIEF-Vistry Sees FY27 APBT Around £185 Mln Corrects to remove reference to CFO resignation in headline
Sept 24 (Reuters) - Vistry Group PLC VTYV.L:
VISTRY GROUP - TIM LAWLOR RESIGNS AS CFO, TO LEAVE IN OCTOBER 2026
VISTRY GROUP - EXPECTS TO ANNOUNCE NEW CFO IMMINENTLY
VISTRY GROUP PLC: SUBJECT TO MARKET CONDITIONS REMAINING BROADLY STABLE, WE EXPECT FY27 APBT TO BE C. £185M
VISTRY GROUP PLC: TARGET ROCE OF MORE THAN 30% AND 12% OPERATING MARGIN BY FY31
VISTRY GROUP PLC: NET DEBT AS AT 30 JUNE 2026 OF £468.8M WAS HIGHER THAN THE PRIOR YEAR
VISTRY GROUP - NO CAPITAL DISTRIBUTION PROPOSED FOR H1 2026 EARNINGS
VISTRY GROUP PLC: TARGETING AVERAGE DAILY NET DEBT REDUCTION TO C. £500M IN FY27 AND BELOW £400M IN FY28
VISTRY GROUP PLC: OPEN MARKET CONDITIONS HAVE BECOME MORE CHALLENGING OVER SUMMER
VISTRY: IN PROCESS OF FINALISING CLASSIFICATION AND QUANTIFICATION OF ITEMS RELATED TO EXIT FROM SOUTH EAST OF ENGLAND
VISTRY GROUP: BUSINESS WILL BE RESIZED, SIMPLIFIED AND REPOSITIONED TO DELIVER LOWER LEVERAGE, STRONGER CASH CONVERSION AND MORE SUSTAINABLE RETURNS
VISTRY GROUP: TRANSITION TO A SMALLER, MORE FOCUSED BUSINESS TARGETING APPROXIMATELY 12,000 COMPLETIONS PER ANNUM OVER THE MEDIUM TERM
VISTRY GROUP PLC: ANTICIPATE IMPACT OF EXIT FROM SOUTH EAST OF ENGLAND IN FULL YEAR WILL BE AROUND £470M
VISTRY GROUP: TARGET TENURE MIX OF APPROXIMATELY 60% PARTNER FUNDED AND 40% OPEN MARKET
VISTRY GROUP: OVERHEAD COST SAVINGS OF £50M P.A. HAVE BEEN IDENTIFIED; RUN-RATE SAVINGS ARE EXPECTED TO BE ACHIEVED WITHIN THE NEXT TWO YEARS
VISTRY GROUP: COMBINED COST ASSOCIATED WITH THESE ACTIONS IN FY26 ANTICIPATED TO BE C. £40M
VISTRY GROUP: DECISIONS MADE IN Q2 TO REDUCE LAND ACQUISITIONS ARE REDUCING LAND EXPENDITURE IN H2
VISTRY GROUP PLC: EXPECT FY27 APBT TO BE C. £185M
VISTRY: REDUCING LEVELS OF WORK IN PROGRESS BY TIGHTLY CONTROLLING SITE STARTS AND PACE OF BUILD OF PRIVATE UNITS ON CERTAIN SITES
VISTRY: NOW EXPECTS TO ACHIEVE A BROADLY NEUTRAL DEBT POSITION AT DECEMBER AND WE ARE TARGETING AVERAGE DAILY DEBT IN H2 OF £750M
VISTRY: GROUP IS 91% FORWARD SOLD FOR FY26, SUPPORTED BY A £3.3BN FORWARD ORDER BOOK
VISTRY: DURING Q4 WE WILL BE ENGAGING WITH OUR BANKS TO AGREE AN EXTENSION OR REFINANCING OF THEIR £900M FACILITIES WHICH MATURE IN APRIL 2028
VISTRY: REMAIN CONFIDENT THAT WITH CASH ACTIONS BEING TAKEN AND ONGOING SUPPORT OF OUR BANKS THERE WILL BE NO REQUIREMENT TO RAISE ADDITIONAL EQUITY
Source text: ID:nRSX0640Wa
Further company coverage: VTYV.L