Dan Coatsworth, head of markets at AJ Bell, said: “Vistry’s shares fell on a gloomy trading update and news that chief financial officer Tim Lawlor was jumping ship.
“Investors have been getting jumpy about the state of the housebuilding and broader construction industry.
“Raw material and labour cost pressures have haunted the sector of late, and the prospect of possible interest rate hikes is bad news for mortgage affordability and housing sales.
“Vistry only recently changed CEO, and a review of the business is still ongoing. New boss Adam Daniels strikes an optimistic tone, but he’s putting on a brave face in what’s clearly a tough market.”
Contact details are available to account holders.
Create a free account to get in touch with this expert.