Member Info for Mattyjenk

Its actually the complete opposite! No other house builder is in the position vistry is. The sales volume is down but not out on the private side, they are still selling. Partnerships and selling discounted houses are not a good strategy for someone of what size vistry used to be. Regional offices have closed and after this round of redundancies more will to. Speak to anyone who works there its rotten to the core and failing misserably compared to what it once was. Dont be suppised if they try to sell the bovis and linden brands off!! Epic failure this company is currently

The redundancies are staff you can't subcontract staff ie site managers qs technical planning and land etc.

It seems after a employee survey vistry did not like the responses so have offered anyone who is not happy to voluntary redundancy! Great start for the new ceo and his attitude towards employees! Nothing shocks me anymore about vistry!

It was only bovis then

Offering redundancies today! More bad news to follow!

Hes averaging down he bought 3m at £13

People just can't get their head around the fact vistry is struggling because its building more than ever! Its building more and making no money. The 'partnership' model that they are fully all in with is a failure in the uk as the end user are getting them at a discount so theres no money! This company was in a better position in 2016 when it imploded than it is today building 5x as many houses. 3 brands all selling the same thing? Make sense? All other builders still sell private houses no one buying private wants to be on the same estate as a majority partnership thats a fact! The new ceo has been left to carry the can here and gregs headed for the hills with his tail in-between his legs! You could well see 3 of the best brands of housing in the uk disappear at this rate! Sad to see and this is from a construction aspect not shareholder

Your bang on the money greg went all in with the labour government and it has not paid off! He was big with the conservatives and his change of direction was led by the climate.

All other big plc's are surviving without going all in with the partnership model.

Cash flow, low margins, big investments into sites that are loosing money.

They build the most houses in the uk but are less profitable than companies turning over 1/4 of the volume.

Busy fools comes to mind.

You do know partnership homes are 80% market value. That 20% reduction used to be all profit.

Deals to investors, prs companies all at below market value.

Thats fine but i know alot of people who work there and it is far from ok!

Im not trying to advise you just dont think this is the right appointment given its current health.

Trainee qs to ceo in 10 years what could go wrong..... oh it already has 😂

Greg was a proven success in construction there are plenty of experiences people who could take over. Nope they continue to bring through from within the failing business and failing model....

Cash rich to huge debts no alarm bells ringing yet ?

I suggest you do your homework on his last decade before coming to that conclusion.

What was a ftse 100 company led by someone who has never been a ceo..... of anything.

As previously posted this confirms bovis and linden no longer exist. The countryside take over is in full swing now and the model will never change until it is too late! Why did vistry buy countryside? Because it was cheap and failing! Gregs ego has got him the bullet from his own roll!

Not the same business, cash rich bovis and linden survived covid. Not with the countryside anchor round its neck

Fyi gregs jacked 😂😂 🚩🚩🚩🚩🚩🚩

Off 4bn turnover......

I can build 300 houses and make no money or even more so lose money.......

Housebuilders bought land years ago with plans of 25% margin. House price increases normally increase to cover the unforseen or run over costs so when the private market is booming you cant loose!!

Switch that around..... selling to providers and ha's for 80% market value... theres your 20% gone. House prices not increasing to absorb inflation costs, run over costs or unforseen.

Most other housebuilders are still mainly private and just slowed it down and will plod on houses are still selling!

Now vistry has gone all in on the affordable model. They cant sell their private because people would rather buy a private house on a predominantly private estate. Vistry are building 16k homes to make their tiny profits! Bovis the parent company had 100 sites... 1b turnover and used to do say 4k houses and made nearly the same profit! Building more does not mean better! Busy fools springs to mind!

Look into how many million he owns hes averaging down

It had no debt as bovis and linden its only suffered since its purchase of countryside. Its now run like countryside snd its failing like countryside was! You will see a influx of sales upto june 26 due to them heavily discounting property to claw in any cash thats out there as stock. Greg would not of retired without him succeeding unless he is admitting defeat and cant save vistry! Just like galiford try partnerships he jumps when the ship has sunk! Also consider greg has shares at £11 £15 he invested heavily over the years and why would you walk away from that???