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Vistry reports a 55% drop in profits due to lower housing demand and slower interest rate cuts.
Housebuilder Vistry reported a 55% drop in half-year profits to £40.9 million, due to reduced buyer demand amid economic concerns and slower-than-expected interest rate cuts.
House completions fell 12% to 6,889, and its forward order book dropped to £4.3 billion from £5.1 billion a year ago.
Vistry plans to boost demand with sales and marketing initiatives, including offering incentives of up to 5% of open market sales prices.
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Vistry informa de una caída del 55% en los beneficios debido a la menor demanda de viviendas y a un menor descenso de las tasas de interés.