March 10 (Reuters) - Britain's regulator for accountants on Tuesday launched an investigation into two individuals over their financial reporting of homebuilder Vistry's South division. The Financial
UK regulator launches probe into former Vistry accountants
Financial Reporting Council Investigation Overview
Background of the Investigation
March 10 (Reuters) - Britain's regulator for accountants on Tuesday launched an investigation into two individuals over their financial reporting of homebuilder Vistry's South division.
Individuals Involved
The two individuals are former employees of the firm, Vistry said in an email to Reuters, adding that it would assist in the investigation.
Scope and Focus of the Probe
The Financial Reporting Council (FRC) said the investigation was launched in relation to two accountants for the forecasting and financial reporting of the South Division of Vistry for the financial years 2023 and 2024.
Vistry's Recent Financial Performance
Dividend and Profit Warnings
The homebuilder refrained from a dividend payout in 2024, after a tough year during which it issued three profit warnings, streamlined its operating model and struggled to keep a lid on costs.
Future Outlook
Margin Forecasts and Market Challenges
Last week, Vistry forecast that margins would narrow in 2026, due to incentives offered to boost sales amid affordability constraints on home buyers.
(Reporting by Prerna Bedi in Bengaluru; Editing by Sherry Jacob-Phillips and Eileen Soreng)
