Scottish Widows owner: Pension funds deal risks making UK like China July 7, 2025 Labour’s flagship deal with pension funds risks making the UK economy more like China, the boss of Lloyds Banking Group has warned after its subsidiary Scottish Widows chose not to sign up to the agreement. Chancellor Rachel Reeves won the support of 17 pension funds which agreed to invest at least five per cent of [...]
‘Prohibitive building costs’ stunting UK growth projects – Deloitte February 4, 2025 “Prohibitive costs” involved in construction projects in major UK cities led to a sharp decline in the number of new developments breaking ground in 2024, according to a new report from Deloitte. Deloitte’s latest Regional Crane Surveys, which covers the central areas of Belfast, Birmingham, Leeds and Manchester, has revealed the number of new starts [...]
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 [...]
Bellway profit craters but shares jump on strong look-ahead October 15, 2024 Despite a significant drop in completions and profit, housebuilder Bellway has said it is well-positioned to deliver growth going forward and supports the Government’s plan to unlock housing construction. Shares surged by more than eight per cent in early trades. Bellway told markets this morning that profit fell by 44.6 per cent in the year [...]
Berkeley: On track but government housing plans require a ‘change of attitude’ September 6, 2024 Housebuilder Berkeley is on track to deliver £525m of pre-tax profit for the full year, according to an update from the firm this morning. The business, which is based in Cobham, England, said 90 per cent of this profit has already been secured through exchanged sales contracts. Berkeley also said it is “fully committed” to [...]
Vistry ‘significantly outperforms’ housing market September 5, 2024 British housebuilder Vistry has reported a rise in revenue and said it is on track to build close to 20,000 homes this year, bucking the trend in a struggling industry. Revenue rose by 11 per cent to £1.97m in the half-year ended 30 June 2024, while operating profit rose 10 per cent to £227.3m. Profit before [...]
Crest Nicholson shares slump as Bellway walks away from £720m takeover August 13, 2024 London-listed housebuilder Bellway has announced it will not make a firm offer to buy rival Crest Nicholson with the company stating that its “strong balance sheet” and land bank would be sufficient to fuel growth independently. Following the announcement Crest Nicholson’s shares slumped by just over 16 per cent to 221p per share. Bellway first [...]
Grainger raises dividend again despite slipping into loss May 16, 2024 Major residential landlord Grainger has raised its dividend despite slipping into a loss in a set of half-year results in which rental income rallied and the value of its underlying properties stayed stable.
Persimmon ‘on track’ to build 10,500 homes this year as property market recovers April 25, 2024 Persimmon said it is on track to build between 10,000 and 10,500 properties this year, in the latest signal of green shoots emerging in the market despite interest rates remaining high.