Vistry Group has said it plans to make some more employees redundant five days after stating it was rewarding investors with tens of millions of pounds.
The FTSE 250 company did not specify how many jobs would be lost, 온라인카지노추천 but it noted that the move would save another £9.5million, in addition to the £35million in savings from its restructuring after acquiring Linden Homes.
It comes the week after the Kent-based business said it was paying out £60million in shares despite initially declaring back in March, soon after the lockdown was imposed, that it had postponed its 41p per share interim dividend payment.
Vistry revealed it had restarted production at 70 per cent of its usual capacity and was operating at all 73 of its contracting sites
Vistry also announced three months ago that profits reached a record high of £188.2million last year on revenues of £1.13billion and an average home sales price of £280,200.
Chairman Ian Tyler even described 2019 as 'another very positive year for the Group.'
Vistry, which renamed itself in January from Bovis Homes, also revealed it had restarted production at 70 per cent of its usual capacity and was operating at all 73 of its contracting sites across the country.
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Chief executive Greg Fitzgerald said that Vistry's performance during the lockdown period 'has been better than initially expected, in respect of reservations, completions and cash management.
'We are pleased by how effectively our site management and health and safety teams have adapted to the new operating procedures.'
The company also said house prices had been 'broadly' in line with its forecasts, and it confirmed it has now reopened almost all of its building sites.
The latest IHS Markit/CIPS UK construction purchasing managers' index showed a reading of 8.2 for April, its smallest ever and about four times as worse during the 2008 financial crash
It shut down almost all of its sites on March 25 as it became difficult for building work to operate as usual after social distancing measures were introduced. Staff were also furloughed, though Vistry has not revealed how many went on leave.
Since then, the firm writes that it has completed over 250 private home sales, taken nearly 450 private gross reservations, and has made exchanges on 310 houses.
Sales teams have also continued to conduct virtual house tours and new reservations, whilst the amount of website traffic has returned to its January and February levels, which Vistry says indicates 'continued strong demand.'
Despite its optimism, the housing sector has experienced a rough time since the government imposed lockdown restrictions in March.
Property website Zoopla estimates that only about half as many dwellings will be sold this year compared to 2019
The latest IHS Markit/CIPS UK construction purchasing managers' index showed a reading of 8.2 for April, its smallest ever and about four times as worse during the 2008 financial crash.
Property website Zoopla estimates that only about half as many dwellings will be sold this year compared to 2019 due to the closure of estate agents' offices, limits on house viewings, and a belief on many prospective buyers that prices will drop.
Estate agents received a boost from the government last week though after they said they could start reopening for viewings.
Earlier in the year, Vistry acquired Galliford's Linden Homes and Partnerships and Regeneration units in January in a deal worth £1.1billion. It has kept both the Bovis Homes and Linden Homes brands following the acquisition.
Shares in the Vistry Group were down 3.2 per cent in morning trading to 735.5p.
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A Ciência & Ensino é uma publicação semestral destinada a professores de ciências do ensino fundamental e médio e seus formadores.
Vistry Group warns of more job cuts after announcing £60m in dividends
por Zack Joe (2020-05-23)
Vistry Group has said it plans to make some more employees redundant five days after stating it was rewarding investors with tens of millions of pounds.It comes the week after the Kent-based business said it was paying out £60million in shares despite initially declaring back in March, soon after the lockdown was imposed, that it had postponed its 41p per share interim dividend payment.
Vistry revealed it had restarted production at 70 per cent of its usual capacity and was operating at all 73 of its contracting sites
Vistry also announced three months ago that profits reached a record high of £188.2million last year on revenues of £1.13billion and an average home sales price of £280,200.
Chairman Ian Tyler even described 2019 as 'another very positive year for the Group.'
Vistry, which renamed itself in January from Bovis Homes, also revealed it had restarted production at 70 per cent of its usual capacity and was operating at all 73 of its contracting sites across the country.
RELATED ARTICLES
Previous
1
Next
Building sites will be allowed to stay open late and at... Redrow follows in rival housebuilders' footsteps with plans... Half as many homes will change hands in 2020 compared to... Back to work with social distancing: Housebuilders Taylor...
Share this article
Share
Chief executive Greg Fitzgerald said that Vistry's performance during the lockdown period 'has been better than initially expected, in respect of reservations, completions and cash management.
'We are pleased by how effectively our site management and health and safety teams have adapted to the new operating procedures.'
The company also said house prices had been 'broadly' in line with its forecasts, and it confirmed it has now reopened almost all of its building sites.
The latest IHS Markit/CIPS UK construction purchasing managers' index showed a reading of 8.2 for April, its smallest ever and about four times as worse during the 2008 financial crash
It shut down almost all of its sites on March 25 as it became difficult for building work to operate as usual after social distancing measures were introduced. Staff were also furloughed, though Vistry has not revealed how many went on leave.
Since then, the firm writes that it has completed over 250 private home sales, taken nearly 450 private gross reservations, and has made exchanges on 310 houses.
Sales teams have also continued to conduct virtual house tours and new reservations, whilst the amount of website traffic has returned to its January and February levels, which Vistry says indicates 'continued strong demand.'
Despite its optimism, the housing sector has experienced a rough time since the government imposed lockdown restrictions in March.
Property website Zoopla estimates that only about half as many dwellings will be sold this year compared to 2019
The latest IHS Markit/CIPS UK construction purchasing managers' index showed a reading of 8.2 for April, its smallest ever and about four times as worse during the 2008 financial crash.
Property website Zoopla estimates that only about half as many dwellings will be sold this year compared to 2019 due to the closure of estate agents' offices, limits on house viewings, and a belief on many prospective buyers that prices will drop.
Estate agents received a boost from the government last week though after they said they could start reopening for viewings.
Earlier in the year, Vistry acquired Galliford's Linden Homes and Partnerships and Regeneration units in January in a deal worth £1.1billion. It has kept both the Bovis Homes and Linden Homes brands following the acquisition.
Shares in the Vistry Group were down 3.2 per cent in morning trading to 735.5p.
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£1.50 fund dealing
Investment ideas
Free fund dealing
First deal free
Annual 0.45 per cent account charge
Free investing
No fees
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Regular investing with no fees
Flat fees
Great service
Fixed monthly cost
Dealing from £7.50
Model portfolios
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Free fund dealing
Tools and fund ideas
> Compare the best investing platform for you