Vistry’s average weekly sales rate has risen by 11% to 0.81 in the period since 1 July, reflecting ‘strengthening’ partner-funded demand. The order book fell from £4.8bn to £4.3bn.
As previously announced, Vistry has secured a £50mn grant for affordable housing from Homes England. A number of new partner-funded deals are also expected to finalise before the year-end.
Full-year guidance has been reiterated, with build-cost inflation remaining at low single digit levels and year-on-year profit growth expected.
The shares fell 2.9% in early trading.
Our view
HL view to follow.
Vistry key facts
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This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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