Vistry Group, Construction industry, Business, UK news Business | The Guardian
FTSE 100 company says profits will lower for the next three years because it underestimated building costsBusiness live – latest updatesMore than £1bn was wiped off the value of housebuilder Vistry on Tuesday after it said that the building costs had been “understated” on some of its projects and issued a profit warning.The company, formerly known as Bovis Homes, saidthe total completion cost for nine of its 46 developments in its south division – including some large schemes – had been understated by 10% of the total build costs. Continue reading…
FTSE 100 company says profits will lower for the next three years because it underestimated building costs
Business live – latest updates
More than £1bn was wiped off the value of housebuilder Vistry on Tuesday after it said that the building costs had been “understated” on some of its projects and issued a profit warning.
The company, formerly known as Bovis Homes, saidthe total completion cost for nine of its 46 developments in its south division – including some large schemes – had been understated by 10% of the total build costs.
