Britain’s Vistry tempers profit outlook to reflect drop in site margins ...Middle East

Oct 23 (Reuters) – British home builder Vistry (VTYV.L) tempered its annual profit forecast on Monday to reflect the impact of a reduction in site margins and said it would cut about 200 jobs as part of a restructuring. The FTSE 250 (.FTMC) company has sharpened focus on working with local government authorities and housing associations to build affordable homes through its Partnerships business, shifting away from the traditional Housebuilding segment. The company gave away price discounts and pre-sale offers for its Housebuilding sites, prompting a re-evaluation of the margins of its sites. Including this impact, Vistry said it now expects adjusted pre-tax profit for the year ending Dec.

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