Vistry Group Shares Remain Rangebound as H1 Profits In-Line

Vistry Group (LON: VTY) shares rose as much as 2.6% to 642.2p on Thursday after the housebuilder reported first-half profits broadly in line with expectations. 

Despite the gain, the stock remains trapped in a months-long trading range. It threatened to break higher in June before declining. 

While today’s move saw the stock push towards the upper end of the range, it still has some way to go before a potentially sustained move higher.

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Vistry said adjusted profit before tax for the six months to June was approximately £80 million, compared with £120.7 million a year earlier. 

Revenue is expected to be around £1.8 billion, down from £2 billion in H1 2024, while completions declined to 6,800 from 7,792. Nonetheless, management said the group remains on track to deliver full-year profit growth.

“I am pleased to report that the Group has delivered first half profits in line with expectations which underpin the Board’s confidence in its full-year outlook,” said Chief Executive Greg Fitzgerald.

Net debt improved to about £295 million as of 30 June, ahead of forecasts, and the company extended its £900 million in lending facilities through to April 2028. 

The forward order book stood at £4.3 billion, with momentum expected to pick up in the second half as new Government funding for affordable housing comes into effect.

Vistry continues to align its strategy with the £39 billion Affordable Homes Programme, and expects a boost from the new funding later in the year. 

The company maintained its guidance for higher profits in 2025, supported by a strong pipeline of development opportunities and partnerships.