Updates

Vistry

December 2023

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.

The months of September and October have seen a chillier wind blowing through the new build housing market as higher interest rates start to bite and even though Vistry has reduced its reliance on private new build sales in favour of social housing and build to rent, it’s not immune. Its Q3 update said it now expects £450m pretax profit for the year versus previously expecting to exceed that number. Vistry also flagged £40m one off costs from the reorganisation to a single Partnerships division and some extra interest costs. As a result, Peel Hunt has downgraded pretax profit forecasts to £406m for 84.4p. For next year and FY25 they rise to £430m and £545m for eps of 89.9p and 117.8p, respectively. Its target price is 1300p. V ...

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Essentra

Loungers - Like-for-like sales accelerate to almost 10%

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 - 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

December 2023

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