UK house builder Vistry on reported better-than-expected full-year profits and said market conditions were improving.
The company posted a 21% rise in adjusted pre-tax profit was to £418.4m for the year to December 31 against an average estimate of £411.1m.
Vistry said it was seeing improved sales trend in the first 11 weeks of the current fiscal year, with year-to-date average private sales rate per site per week at 0.54, which increased to 0.62 in the last four weeks.
“We have seen increased consumer confidence from Q4 2022, particularly as mortgage rates have trended downwards and availability has improved,” the company said on Wednesday.
Reporting by Frank Prenesti for Sharecast.com
