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Vistry Group HY Contracting Revenue Down - Quick Facts

Vistry Group Plc. (VTY.L) reported that its contracting revenue for the six-month period ended 30 June 2020 declined to 213 million pounds from 244 million pounds last year. Revenue from Vistry Partnerships in the period was 297 million pound compared to 338 million pound in the prior year.

In the first half, Vistry Partnerships delivered a total of 489 units from its mixed tenure operations with an average selling price of 233 thousand pounds, compared to 574 units in the prior year.

The company said it welcome the Chancellor's announcement on Wednesday regarding a stamp duty exemption for homes worth up to 500,000 pounds until 31 March 2021. The company anticipates this positive stimulus will support buyers as well as the wider economy.

The short-term financial guidance remains suspended, due to the present economic uncertainty caused by the Covid-19 pandemic. The company will provide a further update with its half year results in September, the company said.

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