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    BVS   GB0001859296

VISTRY GROUP PLC

(BVS)
  Report
Delayed Quote. Delayed London Stock Exchange - 06/11 11:35:09 am
1257 GBX   +0.96%
06/07Deutsche Bank Lifts Vistry To Hold From Sell, Ups PT
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05/28Barclays Lifts Vistry To Overweight From Equal-weight, Ups PT
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05/25VISTRY  : Partnerships Seminar
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Bovis Homes : Homebuilder Vistry slips to first-half loss, points to recovery in second half

09/08/2020 | 05:04am EDT

Homebuilder Vistry swung to loss for the first six months of the year on Tuesday due to an earlier shutdown of its construction sites amid the coronavirus crisis, but said it had seen a "strong start" to the second half as restrictions eased.

The company, formerly called Bovis Homes, reported a pretax loss of 12.2 million pounds ($15.99 million) in the six months ended June 30 due to increased costs, compared with a profit of 72.5 million pounds a year earlier. Home completions plunged to 1,235 from 3,371.

"The business incurred additional costs directly related to the period of lockdown, lower levels of operating efficiency from social distancing and the lengthening of development period expectations," the company said.

Shares dropped 3% to 617.5 pence by 0822 GMT, taking the year-to-date losses to a staggering 53%.

However, Britain's housing market has picked up pace as restrictions gradually eased, with tax breaks for home purchases and a trend towards suburban living spurring home sales.

"We have seen positive sales trends since early May, with consumer interest higher than at any time in recent years.  Our sales rate in the second half to date is running 20% ahead of last year," Chief Executive Officer Greg Fitzgerald said.

The company aims to resume dividend payments in 2021, while larger rival Persimmon reinstated payouts last month.

Vistry expects full-year pretax profit to be between 130 million pounds and 140 million pounds and targets earnings of at least 310 million pounds in 2021.

Sales jumped to 606.4 million pounds in the half-year period from 472.3 million pounds.

(Reporting by Jasmine I S and Samantha Machado and in Bengaluru; Editing by Devika Syamnath and Amy Caren Daniel)


© Reuters 2020
All news about VISTRY GROUP PLC
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More news
Financials
Sales 2021 2 564 M 3 616 M 3 616 M
Net income 2021 262 M 370 M 370 M
Net cash 2021 140 M 197 M 197 M
P/E ratio 2021 10,5x
Yield 2021 3,93%
Capitalization 2 782 M 3 925 M 3 925 M
EV / Sales 2021 1,03x
EV / Sales 2022 0,94x
Nbr of Employees 2 945
Free-Float 98,9%
Chart VISTRY GROUP PLC
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Vistry Group PLC Technical Analysis Chart | MarketScreener
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Technical analysis trends VISTRY GROUP PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 1 371,38 GBX
Last Close Price 1 257,00 GBX
Spread / Highest target 27,3%
Spread / Average Target 9,10%
Spread / Lowest Target -24,3%
EPS Revisions
Managers and Directors
NameTitle
Greg Paul Fitzgerald Chief Executive Officer & Director
Earl Sibley Chief Financial Officer & Director
Ian Paul Tyler Non-Executive Chairman
Graham Prothero Chief Operating Officer & Director
Margaret Christine Browne Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
VISTRY GROUP PLC33.79%3 925
D.R. HORTON, INC.28.74%31 986
PULTEGROUP, INC.26.02%14 290
PERSIMMON PLC10.99%13 818
SEKISUI HOUSE, LTD.5.02%13 624
BARRATT DEVELOPMENTS PLC9.13%10 489