Updates

Vistry

December 2024

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.

Vistry has said build costs have been under stated by 10% on 9 out of 46 developments at its southern division. For context, the group is made up of six divisions and 300 developments overall. The estimated extra costs reduce its guidance for pretax profit by £80m to £351m (eps: 73.3p) for FY’24 and by £30m to £469m (eps: 99p) in FY’25. The following year is marked down just £5m to £119.6m (120.8p). The company is instigating an independent review and making management changes, but believes it’s isolated to that division. HSBC says it “sees no impact on Vistry’s medium term targets of £800m operating profit, 40% ROCE and returning £1bn to shareholders” and is maintaining its 1530p price target. A main buy at 860p in Ju ...

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Hostelworld - Bank debt, which peaked at €21.2m, now paid off

TMI Trader Portfolio 2 - December '24

Vistry (January 2025)

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 (April 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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