Updates

Vistry - Net debt falls from £357m to just £40m

January 2021

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.

My decision to revisit Vistry two issues ago at 573p looks prescient in the light of the Covid-19 vaccine rally. Vistry has confirmed it is “fully sold” for the year and now expects pretax profit to be at the upper end of the £130m-£140m guidance. In addition it’s well positioned to deliver its target £310m (eps: 113p) for FY’21 - assuming stable conditions. But the greatest catalyst for the surge has been stronger than expected cash flow, which has chopped net debt to just £40m against forecasts of £140m and hugely down from the £357m as at 30th June. This was driven by strong trading, quicker cash collections than expected and improved land buying terms. Vistry is striking more land deals dependent on achieving detailed planning ...

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Brickability

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 (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 (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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