Vistry shares plunge 14% after profit cut, Southern Region issues weigh on outlook By Investing.com

Profit Guidance Cut: Vistry Group's shares fell over 14% after the company revised its 2024 profit forecast down by nearly 15% to £300 million due to operational issues in its Southern Region, leading to a reduction in projected completions from over 18,000 to approximately 17,500 units.

Operational Challenges and Market Impact: The company faces ongoing challenges related to management and work culture, with an estimated £165 million needed to address these issues, while also navigating pressures from building safety regulations and fluctuating market demand.