Member Info for Amatour

"Vistry and L&Q have been cleared for the latest phase of their 4,000-home regeneration scheme in east London after the Environment Agency withdrew its objection to the plans."

https://www.housingtoday.co.uk/news/vistry-and-landq-get-green-light-for-405-home-east-london-scheme-after-environment-agency-withdraws-objection/5142504.article

It's good to see Vistry (finally) coming out fighting.

I'm invested here and resigned to playing the long game however one thing that worries me is this government's total lack of spine and its knee-jerk reaction to criticism.

If the concerted pile-on by parts of the media continues, the government could decide that the populist move would be to distance themselves from their "Favourite housebuilder".

Vistry seem to be putting all their eggs in one basket with this partnership model.

I'm sitting on my hands. Twice now I've bought when the concensus was that VTY were at rock bottom only for them to keep digging.

My "life" has been "better" since I green-boxed the clown.

Icecool

Thanks for the advice.😁. I thought this bottom feeding malarkey was meant to be restricted to AIM 😉

This isn't just "Vistry-centric" however I believe the UK (and wider) Construction Industry is going to come under pressure in the coming months.

I work in construction in the UK. Usually, we receive 2-3 Purchasing Alerts per week from our Commercial Team, detailing forthcoming price increases from suppliers.

I have been away for a week and came back today to 27. Twenty. Seven.

Some are "just" 5%, however the majority are 12-18%, landing in April/May. Hopefully, any large contractors will have factored-in force majeure to their T's & C's.

Hopefully....

Betterlife20

"That is secret , can’t share that."

Really?

You seem to have insider knowledge inaccessible to us mere proles. Without disclosing your source, would you care to put some meat on that particular bone?

Also, you have stated "You better to stay away from Vistry for a very long time until the CEO comes clean.".

That's quite a "bold" claim to make in writing if you're not going to back it up with written evidence. Don't forget that defamation can occur by inference - a statement does not need to be explicitly defamatory on its face; it can be defamatory if an ordinary, reasonable reader would infer a damaging meaning from the context. To my reading, your statement appears to qualify as such. Unless you'd care to put in writing why the CEO should "come clean"?

Betterlife20

Do you actually mean "doggy" as in "Like a dog" or "dodgy" as in "unreliable, risky, or of poor quality"?

Https://www.msn.com/en-gb/money/other/housebuilder-facing-cash-squeeze-handed-300m-by-government/ar-AA1ZcoOn

It's almost like there's a concerted effort in the news media to rubbish Vistry. The shadow housing minister has also chimed in with comments to the Telegraph ( who'da thunk it).

I would have been tempted to top up if it hits 340 but my funds are WITH HARGREAVES LANSDOWN!!

45bob

I agree, it's very frustrating.

What are the alternatives? IG? A J Bell?

@aspers I'm genuinely interested- if the CFO doesn't buy-in big then, according to you, "He knows the score". However, you seem to ignore that 2 other board members have bought just short of £1m this week.

Care to explain?

Betterlife20

You keep posting negative comments about this stock but you don't seem to be able to back it up with anything apart from the Iran war and the oil price.

What is this "negative news" about Vistry that you know and everyone else doesn't

Betterlife20

You keep posting negative comments about this stock but you don't seem to be able to back it up with anything apart from the Iran war and the oil price.

What is this "negative news" about Vistry that you know and ev

Disclosure - I am in the construction industry and I bought heavily into Vistry on the drop - my current average is 457. I have nothing to gain by rubbishing this stock however recent events caused me to cancel my 380 order.

I have read and re-read their recent results and am confident their balance sheet is strong.

However...

I was at a meeting on Monday where a subcontractor for Vistry confirmed that they had been subject to the renegotiation of their terms (and not to their advantage). As a result, their FD has ordered an analysis of their exposure to Vistry and also a re-evaluation of their credit limit.

There has been a barrage of not-so-positive news, from the Chairman announcing his retirement (and a margin warning to boot) to the CCO dumping £34.5K of his shares (!) to questions in the House about their suitability as a Govenrment partner.

My concern is that this cumulative negative sentiment is going to lead to a withdrawal of credit facilities (or support) from their subcontractors/suppliers. Also, with the knee-jerk, media-focussed tendencies of our government, we could see Vistry being a decoy target for the woeful 1.5m new homes debacle.

Vistry's management are either supremely confident that they are going to weather this current storm or supremely stupid. I'm really hoping it's the former.

I would welcome your thoughts.

I can see the rationale of the share buy-back, but if it affects your cash flow to the extent that you need to renegotiate supplier terms, it's not a good look.

Also, Vistry really don't need the bad press (and the potential to lose their preferred supplier status).

Seems like their PR Department needs a kick up the ****

Robbo666

To be fair, Roofing (Exteriors that was) IS lean & mean and has consistently made money.

Construction is on its ar*e but I have it from a reliable industry source that SIG Roofing is fairing better than its competitors (although that's not a very high bar to clear). Whether that's enough is the question.

I'm glad I didn't cancel my 380 order...

Ever thought about changing your nick to "Worselife20"?