Vistry Group
VTY · Main Market · Consumer Products and Services · mcap £806m · 255.2p 3 open situations →
- EV
- £1.3bn
- EV / EBIT
- –
- Net debt
- £469m
- FCF yield
- -8.9%
- Revenue
- £3.4bn
- Cash returned
- 6.4%
- Share price 1y
- −63%
- Insiders 12m
- bought £1.2m
- Next report
- in March ●
Vistry builds mixed-tenure homes, selling a large share to housing associations, build-to-rent investors and councils (partner funded) and the rest to private buyers. It operates across England and also draws on government affordable housing grants.
Open · 3
6 directors buying
- 5 Oct 2026 Alice Woodwark £40k
- 15 Jul 2026 Adam Daniels £100k
- 14 Jul 2026 Paul Whetsell £38k
- 20 Apr 2026 Rob Woodward £65k
SAHP 2026-2036 grant allocations
The £39bn SAHP and 10-year rent settlement underpin partner demand; bidding closed by 13 May 2026. The first wave was announced by 24 Sep 2026: £9.58bn to 33 Strategic Partners, with Vistry securing a £350m direct grant, the largest award, for over 3,000 affordable homes. Build has started and the allocations support H2 deal flow.
- Next milestone
- Grant notification and Partner status clarification expected in Q3 2026 13 May 2026 ↗
- Programme
- Targets 300,000 homes over its term
- Demand impact
- Step up in partner demand towards end of 2026 and into 2027 13 May 2026 ↗
- Current activity
- Partner transactions relatively subdued during programme transition 13 May 2026 ↗
- Direct grant
- £350m, largest award in the first phase; funds over 3,000 affordable homes 24 Sep 2026 ↗
- First wave
- £9.58bn to 33 Strategic Partners, 29 of which Vistry works with 24 Sep 2026 ↗
Next: Partner deal flow and renegotiated contracts through H2
- 24 Sep 2026 First wave allocated; £350m direct award won
- 8 Jul 2026 Allocations expected September; demand constrained
- 13 May 2026 Bidding closed; notifications expected Q3
- 4 Mar 2026 Bidding open; Vistry bid being submitted
New CEO operational review
Follows from Chair and CEO succession – Adam Daniels appointed CEO; Fitzgerald leaves immediately, closed 13 Apr 2026Led to Return to net cash – Year-end target cut to broadly neutral cash
Adam Daniels became CEO on 13 April 2026 and CFO Tim Lawlor resigned on 8 July. Review conclusions were published on 24 Sep 2026 with the half-year results. They shrink the Group to about 12,000 completions, exit South East Open Market sales, cut regions from 25 to 12 and add £50m of savings. About £470m of FY26 charges are expected, and a new CFO is to be named imminently.
- CFO successor
- Board has started a search; further update in due course 8 Jul 2026 ↗
- Destination
- CFO role at a large privately-owned business in a different sector 8 Jul 2026 ↗
- Scale
- c.12,000 completions p.a. medium term; c.60% Partner Funded, 40% Open Market 24 Sep 2026 ↗
- Regions
- 25 regions consolidated into 12; South East moves to fully pre-sold model 24 Sep 2026 ↗
- Cost savings
- £50m p.a. new plus £25m p.a. previously identified; FY26 cost c.£40m 24 Sep 2026 ↗
- FY26 charges
- c.£470m expected; FY26 APBT c.£165m excluding these items 24 Sep 2026 ↗
Next: New CFO appointment announced imminently
- 24 Sep 2026 Review complete; resizing plan being executed
- 8 Jul 2026 Review ongoing; CFO to leave in October
- 8 Jul 2026 Initial conclusions given; full review pending
- 13 May 2026 Review under way, led by new CEO
Closed · 9
Company filings. Not investment advice.