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Vistry

April 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.

Vistry announced full year results slightly ahead of guidance with pretax profit of £143.9m (forecast: £140m). But the main reason for the re-rating has been its dramatic swing from net debt of £357m last June to net cash of £38m.The driving force was a strong second half, which saw private sales per outlet rising 15% to 0.62, while the first 8 weeks of FY’21 saw that increase to 0.66.The order book is strong with 64% of total Housebuilding and Partnerships (mixed tenure) forecast units already secured. As a result, management still expect to achieve a sharply increased £310m pretax profit this year.CEO Greg Fitzgerald has again acquired more shares, this time 53,618 at 92 ...

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Town Centre Securities - NAV discount starting to narrow

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 (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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Vistry

April 2021

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