Housebuilder Vistry pins hopes on £2bn affordable homes promise as profits fall
by Julia Kollewe from on (#6W64Q)
Company suspends dividend payouts after shares dip by 8% with profits down by more than a third
Profits at the UK housebuilder Vistry Group have slumped by more than a third in what it described as a disappointing year" but it is pinning hopes of a turnaround on the government's promise this week to inject 2bn into affordable homes.
After three profit warnings last year, Vistry suspended dividend payouts to shareholders on Wednesday. Its shares were the biggest faller on the FTSE 250 index, ending the day more than 7% lower.
Continue reading...