Vistry shares plunge after builder warns on profit Property Vistry shares plunged around a third in early deals this morning after the company issued an unscheduled profit warning. The share price has since stabilised, but it remains down by just over 24 per cent. The group has warned that its profit will be £80m lower than expected this year due to issues with some [...]
Vistry ‘significantly outperforms’ housing market Property British housebuilder Vistry has reported a rise in revenue and said it is on track to build close to 20,000 homes this year, bucking the trend in a struggling industry. Revenue rose by 11 per cent to £1.97m in the half-year ended 30 June 2024, while operating profit rose 10 per cent to £227.3m. Profit before [...]
Barratt: Profit halves at housebuilder but firm optimistic after Redrow deal Property Housebuilder Barratt reported a halving in profit and drop in completions amid a challenging housing market, but has said it is optimistic about the future. Barratt said its total home completions in the year ended 30 June reached 14,004, down 18.6 per cent from 17,206 in 2023 but at the upper end of the company’s [...]
US jobs data takes centre stage as markets bet on Fed rate cut September 1, 2024 US jobs data will take the spotlight for global financial markets this week as investors look for clues on how far the Federal Reserve might go in cutting interest rates.
Completions to fall at Barratt amid flurry of updates from housebuilders September 1, 2024 Barratt Developments is expected to report a fall in home completions, but profits just ahead of previous expectations, amid a week of financial updates from UK housebuilders. The company, which is Britain’s biggest housebuilder, reports its annual results on Wednesday September 4, with updates from Vistry and Berkeley Group in the following days. Barratt said in July [...]
Barratt pushed ahead with £2.5bn Redrow merger despite CMA concerns August 19, 2024 Housebuilders Barratt and Redrow have decided to push ahead with their £2.5bn merger despite issues raised by the competition regulator. The merger, announced by the companies in February, has been under investigation by the Competition and Markets Authority (CMA) due to concerns that it could significantly reduce competition. The two companies currently hold a large [...]
Crest Nicholson set to accept £720m Bellway bid as housebuilders eye tie-up July 10, 2024 Crest Nicholson is set unanimously to recommend a revised all-share offer from rival FTSE 250 housebuilder Bellway that values the firm at £720m.
Homebuilder Vistry boosts output target as cost inflation softens July 9, 2024 Vistry announces strong first-half results
FTSE 100 reshuffle: Ocado and St James’s Place out, and one surprising new entrant June 6, 2024 The FTSE 100 index has lost some well-known names but gained one unexpected addition.
US private equity giant Blackstone snaps up 1,700 homes from Vistry as it drives to become major UK landlord June 4, 2024 Blackstone and Regis Group have inked a deal to buy 1,700 homes from developer Vistry. The private equity firm and its joint venture partner Regis will shell out £580m for the portfolio of new build homes across the South East of England.