Builders and building materials
Vistry raises profit target as house demand booms
Completions, margins and orders all ahead of where Vistry thought they would be
Company
Vistry Group PLC
LON:VTY
Vistry Group PLC is the new name for Bovis Homes, the UK housebuilder, after it acquired Linden Homes from Galliford Try. With developments from Northumberland to Cornwall and Cheshire to Norfolk, Vistry Group will be delivering around 12,000 private and affordable homes a year across the country, making it one of the top five housebuilders in the UK by volume.
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Builders and building materials
Vistry says housing sales currently well above a year ago
“We have a strong forward sales position, with 64% of forecast units for 2021 already secured"
UK gross domestic product expected to continue recovery in December
It's the lunar New Year but it is unlikely the UK's GDP, industrial production and trade figures will be anything to go over the moon about
Builders and building materials
Vistry expects to pay modest dividend, with house sales up 20% over past six weeks
Private sales per outlet per week increased by 15% in the second half
Back on the dividend list: over 90 companies have restored payout after pandemic panic
Restoration projects so far this month have included Balfour Beatty, Vistry, GB Group and MJ Gleeson
Builders and building materials
Vistry mulls dividend this year as house sales recover
The builder predicted profit before tax of £310mln for 2021 and to be in a net cash position by the year-end
Builders and building materials
Risks around the corner for housebuilders, says Deutsche Bank
A new Help to Buy scheme opens on December 16 and the stamp duty holiday is due to end at the end of March 2021
Builders and building materials
Vistry sees profits at top end, aims to restart dividends next year
"Cash generation has been strong, and we now expect our FY20 year-end net debt to be significantly lower than our previous expectations," said CEO Greg Fitzgerald
Vistry unveils significant contract wins for partnerships business
The housebuilder said the new deals carry a gross development value of £165mln and will provide over 661 new homes
Builders and building materials
Vistry upgraded to ‘buy’ by UBS over solid base for 2021 profit rebound
The price target was bumped up to 790p from 730p as the discount was previously justified by the risk of an equity raise more than offset by a stronger outlook
Builders and building materials
Vistry predicts profits recovery as housing demand rebounds
Orders are now at a record £2.7bn and Vistry sees profits for the full year in a range of £130mln-£140mln
Builders and building materials
Citigroup downgrades Vistry Group to ‘neutral’ from ‘buy’ as near-term risk-reward “less compelling”
The US bank also trimmed its target price for the FTSE 250-listed stock to 785p after tweaking its estimates to reflect a slower fixed cost absorption on the back of the coronavirus (COVID-19) disruption
Builders and building materials
Vistry expects margins to restore as market trends continue to improve
Vistry Partnerships' mixed-tenure reservations are totalling £393mln and housebuilding reservations are currently £1.2bn
Builders and building materials
Vistry says sales rate improving as lockdown eases
The group’s total reservations total £1.5bn, including joint ventures
Archive
FTSE 100 closes higher as sentiment surrounding coronavirus shifts again
Britain's blue-chip benchmark closed up nearly 65 points, or 1.08% at 6,067. The FTSE 250 advanced over 47 at 16,367
Builders and building materials
Vistry to restart work at some of its sites next week as coronavirus lockdown eases
The housebuilder said its website traffic remains strong but it had received 80 cancellations since the lockdown began
Builders and building materials
Vistry secures housing development contracts totaling £213mln
“Despite the current Covid-19 restrictions, the demand for affordable, quality homes remains high”
Housebuilders Barratt and Vistry close construction sites and join dividend dump
Building sites are being closing due to the government’s new social distancing initiatives, which are expected to have a "significant impact on both construction output and reservations"
Builders and building materials
Vistry profits beat forecasts as builder regains top rating
Formerly known as Bovis Homes, the group had slipped to a 3-star customer rating in 2016
Builders and building materials
Vistry beats profit forecast as Linden acquisition boosts outlook
The group - formerly Bovis Homes - acquired Galliford Try’s housebuilding and Partnerships & Regeneration arms earlier this month