Vistry reports GBP 83.30 million H1 loss for Vistry stock

Vistry Group (ISIN GB0001859296) reported an adjusted loss before tax of GBP 83.30 million for the first half of 2026, compared with an adjusted profit of GBP 80.60 million a year earlier. The results were published on September 24, 2026, when Vistry Group also outlined a smaller operating structure and tighter cash controls.

First-half losses reset the baseline

Adjusted revenue fell 9.00 percent to GBP 1,703.30 million from GBP 1,869.10 million in the first half of 2025. Completions declined 8.00 percent to 6,304 homes from 6,889, while the adjusted operating margin moved to minus 2.10 percent from 6.70 percent.

The statutory figures were more severe. Reported revenue was GBP 1,418.20 million, and the reported loss before tax reached GBP 661.30 million versus a GBP 40.90 million profit in the first half of 2025. The release attributed the wider loss to exceptional items including a GBP 475.00 million goodwill impairment and a GBP 73.20 million building safety provision.

What does the GBP 165.00 million outlook mean?

Vistry expects adjusted profit before tax of GBP 165.00 million for fiscal year 2026, after a GBP 40.00 million reduction linked to partner deals delayed for renegotiation. For fiscal year 2027, the company expects adjusted profit before tax of GBP 185.00 million, subject to stable market conditions.

The forward order book stood at GBP 3.30 billion in the September 24, 2026 update, with 91.00 percent of fiscal year 2026 forward sold and 90.00 percent of partner-funded sales secured. The group is targeting 12,000 annual completions over the medium term, alongside a 30.00 percent return on capital employed target by fiscal year 2031.

Broker target reflects execution risk

Hargreaves Lansdown reported on September 28, 2026 that Berenberg cut its target for Vistry from GBp 263.00 to GBp 252.00 while retaining a Hold rating. Berenberg also cut adjusted pretax profit forecasts by 26.00 percent across fiscal years 2026 to 2028.

The same report said net debt had risen to GBP 469.00 million from GBP 293.00 million. That balance-sheet pressure places cash generation alongside margins as the central test for the restructuring plan.

Stock price and company facts

Vistry stock was trading at EUR 2.93 at Lang & Schwarz on October 22, 2026 at 1:41 p.m. CEST. The company is a UK residential construction group led by CEO Adam Daniels, with a mixed-tenure model spanning partner-funded, affordable and open-market housing.

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Market context: Market report FTSE 100.

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