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Vistry to resume dividends in 2021 after strong performance through pandemic
StockMarketWire.com
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Housebuilder Vistry has said it is on track to deliver profit before tax at the top end of its expected range of £130-140 million, and plans to resume paying dividends next year.
The company said demand for new homes had remained 'consistently strong' over the second half of the year to 11 November, and it had fully sold its forecast total completions for the whole of 2020.
It had also managed to reduce its debt by more than expected during the year, and said it was operating with 'substantial funding headroom'.
As the UK entered its second lockdown, Vistry said it had been in regular dialogue with suppliers and continued to see a good supply of build materials and labour with low levels of cost inflation.
It also highlighted attractive opportunities in the land market and a strong outlook for its Partnerships business.
At 8:02am: (LON:VTY) Vistry Group PLC share price was +9.75p at 769.75p
Story provided by StockMarketWire.com
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