Vistry Group

VTY · Main Market · Consumer Products and Services · mcap £696m · 221.2p

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.

Target	Promise	Said	Status
2023
31 Dec 2023	Reduce net debt to about £100m by 31 December 2023	23 Oct 2023	✓ Kept
	“We continue to expect net debt to reduce to c. £100m as at 31 December 2023” Result FY23 year-end net debt was £90m (January 2024 update), confirmed at £88.8m in March 2024. “Year-end net debt of c. £90m (31 December 2022 net cash: £118.2m) in-line with guidance and significantly down from 30 June 2023 position (net debt: £328.7m)”12 Jan 2024 · Trading update “Group net debt as at 31 December 2023 was £88.8m (2022: net cash £118.2m) with a strong balance sheet”14 Mar 2024 · Final Results
2024
31 Dec 2024	Receive 5-star HBF rating for fifth consecutive year in 2024	14 Mar 2024	✓ Kept
	“Expect to be awarded a 5-star HBF Customer Satisfaction rating for the fifth consecutive year in 2024” Result Group was awarded 5-star HBF Customer Satisfaction rating for fifth consecutive year in 2024. “The Group was awarded a 5-star HBF Customer Satisfaction rating for the fifth consecutive year in 2024”15 Jan 2025 · Trading update
2025
30 Sep 2025	Complete refinancing of Term Loan and Revolving Credit Facility by summer 2025	14 May 2025	✓ Kept
	“expects to complete this during the summer” Result July 2025 update said refinancing was secured to April 2028. “The Group has also successfully completed its refinancing, with facilities extended out to April 2028 and no changes to either the lending group or the terms of the facilities.”10 Jul 2025 · H1 2025 Trading Update “The Group completed the refinancing of its £500m Revolving Credit Facility and £400m Term Loan on 1 July 2025. Both the Revolving Credit Facility and the Term Loan, which were due to expire in December 2026 and September 2026 respectively, have been extended out to 30 April 2028.”10 Jul 2025 · H1 2025 Trading Update
31 Dec 2025	Deliver year-on-year profit increase in FY25	15 Jan 2025	✓ Kept
	“the Group remains confident in delivering year-on-year profit growth for FY25” Also stated 14 May 2025 · 10 Sep 2025 · 6 Nov 2025 Result FY25 adjusted profit before tax was £268.8m versus £263.5m. “Group adjusted profit before tax ahead of prior year at £268.8m (2024: £263.5m), in line with guidance.”4 Mar 2026 · Final Results
31 Dec 2025	Reduce net debt year-on-year at 31 December 2025	26 Mar 2025	✓ Kept
	“expects to deliver a year-on-year reduction in the Group's net debt position as at 31 December 2025” Also stated 10 Sep 2025 · 6 Nov 2025 Result Net debt at end-2025 was £144.2m versus £180.7m. “Net debt reduced to £144.2m as at 31 December 2025 (31 December 2024: £180.7m) with average daily debt of £733.7m.”4 Mar 2026 · Final Results
2026
24 Sep 2026	Share operational review findings by interim results on 24 September 2026	13 May 2026	✓ Kept
	“Adam is leading an operational review of the Group, the findings of which will be shared no later than our interim results on 24 September 2026” Result Review published on 24 September 2026 with restructuring plan. “In parallel, we have now completed an extensive review of our business and operating model including how best to position the Group for future success, the conclusions of which we are communicating today alongside our half year results.”24 Sep 2026 · Half-year Results