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Vistry, the UK's largest affordable housing builder, expects to post a pre-tax loss of GBP 30 million (USD 40.06 million) for the first half of FY2026 as it continues to deal with weak housing demand and a slower construction pace. The company also announced that Chief Financial Officer Tim Lawlor will leave later this year to join a privately owned business in another sector. Despite the expected first-half loss, Vistry has maintained its full-year adjusted profit guidance of GBP 200 million, in line with market expectations, while continuing a strategic review under its new CEO.
Britain's largest affordable housing builder, Vistry, has said it expects to report a pre-tax loss of GBP 30 million (USD 40.06 million) for the first half of FY2026. The company also announced that its Chief Financial Officer, Tim Lawlor, will step down later this year to take up a role with a large privately owned company operating in a different sector.
The expected first-half loss comes after Vistry cautioned in the past week that its full-year profits would be lower than previously anticipated. The company has been reducing the pace of construction as it responds to softer housing demand across the UK residential market.
The slowdown also comes as Chief Executive Officer Adam Daniels, who assumed leadership around three months ago, continues a strategic review of the business. The review is aimed at improving the company's operational performance following a prolonged period of subdued market conditions affecting the UK housing sector.
Tim Lawlor, who became Vistry's Chief Financial Officer in 2022, is expected to remain with the company until October to support the leadership transition before moving to his new role.
Despite forecasting a first-half loss, Vistry has maintained its guidance for the financial year ending December 2026. The company expects to deliver an adjusted profit of GBP 200 million, which is in line with the consensus estimates compiled by the company from market analysts.
Vistry has faced several operational and market-related challenges over the past year, including weaker buyer demand, higher financing costs and pressure on the broader UK housing market. The company has continued to focus on its affordable housing and partnership-led business model, which has remained a key part of its long-term strategy despite the challenging environment.
Source Reuters
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