Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Vistry shares surge as profits jump, unveils £100m buyback
(Sharecast News) - Shares in Vistry surged on Thursday after the UK housebuilder posted a jump in annual profits, unveiled another £100m share buyback and forecast higher completions in 2024 driven by strong demand. The company on Thursday posted a 23.2% rise in pre-tax profit of £304m for the year to December.
Vistry said it was on track to deliver strong growth in completions in 2024, targeting more than 17,500 units compared with 16,118 homes built a year ago, underpinned by its forward sales position totalling £4.6bn, of which £2.1bn is for delivery this year
It added there had been a "notable pick-up" in demand from private rental sector providers in recent months.
"The easing of mortgage rates at the start of the year has had a positive impact on open market demand and we are optimistic that this trend will continue during 2024," the company said.
"Open market demand from private buyers remained suppressed during 2023 with our private sales rate significantly below prior years. This reflected higher mortgage borrowing costs, inflationary cost pressures on household income and wider macroeconomic and political uncertainty."
In a rare foray into UK politics, chief executive Greg Fitzgerald said he expected Vistry to be able to build more homes under a Labour government, believing the main opposition party would put more money into affordable housing to tackle a chronic shortage.
I am pretty confident that from our new-model perspective, we would be better with a Labour government. I think they (Labour) will put more money into affordable housing than the Conservatives," he told the Reuters newswire service.
The ruling Conservatives, in power for 14 years, are trailing Labour by 20 points in the polls and struggling to make headway with economic policies, amid high interest rates and a cost-of-living crisis.
Reporting by Frank Prenesti for Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.