Vistry reports £661m loss as new boss slashes regional network and cuts jobs to save housebuilder

From the Newshound archive · first published 24 September 2026.

Housebuilder Vistry has plunged to a £661m pre-tax loss in six months after new chief executive Adam Daniels disclosed that the company's assets had been overvalued by £475m. Daniels set out sweeping plans to shrink the FTSE 250 firm, reducing headcount and cutting its regional network by more than half to keep the business afloat. The crisis is the culmination of years of aggressive growth under his predecessor, whose partner-model strategy has collapsed dramatically.

Vistry's share price has already fallen nearly 60 per cent this year after former chief Greg Fitzgerald made a shock sudden exit in March.