Vistry Expects £30 Million Pretax Loss, CFO Steps Down

Vistry Expects £30 Million Pretax Loss, CFO Steps Down UK homebuilder Vistry Group Plc expects to report a loss before tax of about £30 million ($40.1 million) in the first half of the year as it races to raise cash. The pretax loss is linked to “cash generation actions” such as price discounts, accelerated asset sales, changes in the mixture of homes on certain sites, changes in build rates and impairments on certain sites, according to a statement Wednesday. These measures resulted in a £50 million charge and an ongoing review by new Chief Executive Officer Adam Daniels could further hit profit, it said.