Housebuilder Vistry Group reported full-year results showing a 35% fall in profits, which was slightly better than it had previously indicated, while revenue rose 7% to £4.3 billion, slightly below guidance. Previously flagged cost issues in the FTSE 250-lised group’s southern division had a total impact of £165 million. With net debt having doubled to end the year at £180.7 million, Vistry did not announce an extra dividend or share buyback. The firm said it is looking at potential sales of its former housebuilding landbank and tighter cost controls to reduce that debt pile. Vistry shares dropped 6.8% in early trading, topping the FTSE 350 fallers.
Betting and gaming firm Evoke owner of bookmakers William Hill, posted full-year results showing a more than tripling in 2024 pretax losses and has revealed slower growth at the start of 2025. Although Evoke’s revenues were up 3% to £1.75 billion its losses before tax jumped to £191.4 million, from £65.2 million the previous year. The firm said first-quarter revenue growth was expected to be a low single digit percentage, below the group's 5-9% full-year target. However, the group’s management reiterated its expectations for the full year. Evoke shares on the FTSE All-Share index tumbled 17%.
Babcock International Group unveiled the signing of a 5-year contract extension with the UK Ministry of Defence, helping to ensure operational readiness within the British Army. The FTSE 100-listed provider of technical and engineering support services said the total contract is worth £1.6 billion. Babcock will provide a comprehensive range of support capabilities for the Army in the UK with global reach. Babcock shares had gained 0.9% after around an hour of trading. The contract award comes with Chancellor Rachel Reeves set to announce a boost to UK defence spending in her Spring Statement today.
Most read news on Investegate this morning
Full year results for the year ended 31 Dec 2024 - - Vistry Group (VTY)
Babcock awarded five-year British Army contract - - Babcock International Group (BAB)
