Housebuilder Vistry issues profit upgrade

By Joey Gardiner2021-09-07T09:04:00

Shares rise as chief exec Greg Fitzgerald reports strong first half and says firm will beat full year expectations

Shares in housebuilder Vistry have leapt more than five per cent after the firm raised year-end profit expectations for the second time in less than four months.

Announcing pre-tax profit of £156m in half year results to June 30, Vistry said a strong operational performance and “positive customer demand” in July and August meant it was now forecasting “adjusted” pre-tax profit of around £345m for the year, 5% above its previous guidance.

The upgrade in expectations saw the firm’s share price rise as much as 6% in early trading, and comes after the business in May already increased adjusted pre-tax expectations from £310m to £325m.

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