July 9 (Reuters) - British housebuilder Vistry said on Tuesday it expects half-year profit to increase by about 7%, buoyed by resilient demand for its affordable homes from housing associations and the rental segment.
The British housing sector would be hoping for a dynamic shift in homebuilding policy under the new Labour government, mainly to tackle planning issues, at a time a delay in interest rate cuts have tempered hopes of a fast-paced recovery.
But Vistry, with its focus on cheaper homes, has been placed in a favourable position compared with some of its top rivals.
The company forecast adjusted profit before tax of about 186 million pounds ($238.2 million) for the six months ended June 30.
($1 = 0.7810 pounds)
Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich
Source: Reuters