Spring Statement 2025: Housing reform to pave way for GDP growth Property The government’s changes to housebuilding will result in a £6.8bn boost to GDP by 2029, according to OBR figures included in the Spring Statement. Chancellor Rachel Reeves called the forecast the “biggest ever” positive growth impact that the OBR has projected from a non-fiscal government policy. Changes to the UK’s housebuilding market were a cornerstone [...]
Vistry: Labour housing pledge to boost company despite profit slump Property Vistry’s share price has slumped five per cent this morning after halting its final dividend of the year, as the housebuilder’s chief described 2024 as a “challenging year” The FTSE 250 firm managed to meet the weak forecasts expected by the markets in its annual results, with profit before tax falling 35 per cent to [...]
Buy Persimmon and Taylor Wimpey ahead of Spring Statement says broker Investing Investment bank Jefferies has said investors should ‘Buy’ shares in UK housebuilders like Persimmon and Taylor Wimpey ahead of this week’s Spring Statement. Chancellor Rachel Reeves is set to present her Spring Statement later this week. Due to her commitment to just one major fiscal event, it was intended as an update rather than a [...]
Taylor Wimpey: Housebuilder holds guidance but warns of cost pressures January 16, 2025 Taylor Wimpey has said it’s on track to meet its profit target for the year, but echoing a similar warning from rivals Persimmon and Vistry, said rising costs could be a headwind to growth in 2025. The FTSE 100 firm expects an operating profit of £416m for 2024, down from £470.2m the year prior, according [...]
Vistry: Housebuilder avoids fourth profit downgrade but warns of market uncertainty January 15, 2025 Vistry has warned of uncertain market conditions as it reaffirmed previously downgraded profit guidance for the year ahead. The UK’s largest housebuilder by output said the outcome of the government’s spending review and a “recovery in consumer confidence” would prove pivotal in determining performance in 2025. Group adjusted pre-tax profit is forecast to be around [...]
UK housebuilders to shed light on property market amid Government targets January 12, 2025 Some of the UK’s biggest housebuilders will say whether demand is picking up in the property market after a prolonged slump, as the Government prepares to overhaul planning rules. London-listed construction groups Persimmon, Vistry and Taylor Wimpey will all provide trading updates next week. Persimmon, which will give an update on its fourth-quarter trading on [...]
IAG, Rolls-Royce and Natwest: The FTSE 100’s winners of 2024 December 31, 2024 The FTSE 100 returned 5.8 per cent in 2024, but under the surface, a clear gap has emerged between the blue-chip index’s winners and losers. Quite a few stocks have fallen out of London’s main index, with companies like Burberry and Ocado being replaced by giants like Games Workshop and Alliance Witan. While around half [...]
Which companies are set to join the FTSE 100? November 26, 2024 Three UK companies are expected to be promoted to the FTSE 100 next month, with Games Workshop set to move to London’s top index for the first time. The Warhammer-maker has seen its stock price jump 35 per cent since the start of 2024 after reporting revenue that was ahead of expectations. St James’s Place [...]
Vistry boss under fire as shareholder spat heats up November 18, 2024 Vistry has tried to placate shareholders after scrutiny over the multiple roles its boss Greg Fitzgerald holds at the housebuilder and competing companies. Fitzgerald has served as executive chairman since May, meaning he’s head of both the board of directors and the company and for which he receives a salary of around £2.5m, according to [...]
Vistry shares plunge as cost overruns lead to profit warning November 8, 2024 Vistry shares plunged by 13 per cent in early deals this morning after the company published the true extent of issues at its South Division. Vistry shares plunged last month after it flagged a profit hit from costs being understated in its South division. It’s now revealed the true extent of the losses. In a [...]