Updates

Vistry

April 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The question on investors’ lips is how long can the housing boom go on for? Certainly, there’s no sign of a slow-down at housebuilder Vistry, whose final results were bang in line with pretax profit rising 140% to £346m driven by a 24% jump in completions (and +7% versus 2019) alongside a 530 basis point hike in operating margin to 13.7%. Vistry has booked £5.7m provisions related to fire safety (taking total provisions to £25.2m).Year-end net cash was £234.5m, a vast improvement from £38m in FY’20. Trading through the year was strong with private sales rate up 43% year-on-year to 0.76x. Encouragingly it’s still improving with sales rate up 20% year-on-year in the first two months of 2022, while the order book has grown 23% to £2,1 ...

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Topps Tiles

H&T

Vistry (January 2025)

Vistry (December 2024)

Vistry - Shares hit new high above £14 (November 2024)

Vistry (July 2024)

Vistry - Shares double since main write-up (June 2024)

Vistry (December 2023)

Vistry - Increased focus on social / affordable housing and pre-sales could double profit to £800m medium term (November 2023)

Vistry (September 2023)

Vistry (August 2023)

Vistry - Countryside synergies upgraded by £10m (May 2023)

Vistry (March 2023)

Vistry - Transformative acquisition increases fast-growing social housing to over 50% sales (December 2022)

Vistry (January 2022)

Vistry (November 2021)

Vistry (October 2021)

Vistry - Gain since last Novembers write-up: 127% (July 2021)

Vistry (April 2021)

Vistry (March 2021)

Vistry - Net debt falls from £357m to just £40m (January 2021)

Vistry (September 2020)

Vistry - Partnerships division transforms growth prospects (July 2020)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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