April 23, 2020 / 8:03 AM / a month ago

UK's Vistry Group plans to restart work at most housing sites from Monday

(Reuters) - British homebuilder Vistry Group (VTYV.L), formerly known as Bovis Homes, said on Thursday it will restart work next week at a majority of its affordable housing sites, where it was forced to stop operations due to the coronavirus outbreak.

The company, which expects the number of furloughed staff to reduce as activity restarts, said about 90% of its partnership sites and a significant number of its housing sites will recommence work from Monday.

It said it had credit facilities of 770 million pounds ($948.02 million) with well spread maturities out to 2027.

Shares of the company, which have lost more than 40% of their value so far this year, gained 3.4% to 752 pence as of 0752 GMT.

Reporting by Yadarisa Shabong in Bengaluru; Editing by Ramakrishnan M.

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