Markets News

Vistry upbeat on second half as UK home demand picks up

Sept 8 (Reuters) - UK homebuilder Vistry Group said on Tuesday it had seen a strong start to the second half of the year, after posting a 28% jump in first-half revenue as the housing market rebounded following the easing of coronavirus-induced restrictions.

The company, formerly called Bovis Homes, posted sales of 606.4 million pounds ($796.8 million) in the half year ended June 30, compared with 472.3 million pounds last year.

“We have seen positive sales trends since early May, with consumer interest higher than at any time in recent years. Our sales rate in the second half to date is running 20% ahead of last year,” Chief Executive Officer Greg Fitzgerald said.

However, the company reported a pre-tax loss of 12.2 million pounds in the first half due to increased costs, compared with a profit of 72.5 million pounds last year.

$1 = 0.7611 pounds Reporting by Jasmine I S and Samantha Machado and in Bengaluru; Editing by Devika Syamnath