Vistry Group PLC
VTY
ISIN GB0001859296 / Valor 832556
Vistry Group PLC
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About company
Vistry Group PLC is a prominent UK-based housebuilding company, known for its strategic approach to addressing the diverse needs of the housing market. The company operates through its well-established retail brands—Bovis Homes, Linden Homes, and Countryside Homes—to sell open-market homes directly to customers, emphasizing the delivery of high-quality homes and services. Vistry Group distinguishes itself in the competitive housebuilding sector with a partnerships-focused model, which is instrumental in catering to a broad spectrum of customer demands, especially within the affordable housing segment. The company's operations are supported by various business units across the country, ensuring a localized and efficient delivery of its services and products. Through this model, Vistry Group aims to maintain its position as a differentiated leader in the UK's housebuilding industry, addressing both the market's volume and quality expectations.
Summarized from source with an LLMView SourceSector: IndustrialsLatest Results (14.08.2024):
Revenue Growth
In the full year results for the year ended 31 December 2023, Vistry Group PLC reported a significant increase in revenue. The Group's revenue grew to £4,042.1 million, up from £3,115.1 million in the previous year, marking a 29.8% increase. This growth was driven by the strong performance of the Partnerships business.
Operating Profit
Vistry Group PLC achieved an adjusted operating profit of £487.9 million for the year ended 31 December 2023, compared to £451.1 million in 2022. This represents an 8.2% increase in operating profit, despite a slight decline in the operating margin from 14.5% to 12.1%.
Net Debt Position
As of 31 December 2023, Vistry Group PLC reported a net debt of £88.8 million, a significant change from the net cash position of £118.2 million at the end of 2022. This shift reflects the Group's increased capital employed and lower volumes in the legacy Housebuilding business due to tougher market conditions.
Completions and Sales
Vistry Group PLC delivered a total of 16,118 new homes in 2023, a 34.9% increase from the 11,951 homes completed in 2022. The Group's sales rate also improved, averaging 0.96 sales per week per site, up from 0.71 in the previous year, indicating strong market demand and effective sales strategies.
Future Outlook
Looking ahead, Vistry Group PLC is optimistic about its growth prospects for 2024. The Group is targeting in excess of 17,500 unit completions, supported by a forward sales position totaling £4.6 billion. Additionally, the easing of mortgage rates is expected to positively impact Open Market demand, and the Group aims to achieve a net cash position by the end of 2024.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
2271 M
Market cap (USD)
611,579
Daily traded volume (Shares)
6.58 / 6.485
1 day high/low (USD)
52 weeks high/low (USD)
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Est dividend (USD)
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Ratings & reviews
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