Vistry boss defends asking suppliers for price cuts and says ‘greater efficiencies mean more work in future’

By Carl Brown2023-10-24T10:27:00

Stephen Teagle says firm has had ‘many positive conversations’ with subcontractors over 10% cost reduction proposal

The chief executive of housebuilder Vistry’s partnerships division has defended the decision to negotiate price reductions on existing and future contracts with contractors.

Stephen Teagle said the negotiations, under which Vistry wrote to contractors to propose 10% price cuts on existing and future contracts, have been “very successful” and that the agreed ”efficiencies” will allow more development and therefore more future work for contractors.

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