Resilient Partnerships boosts Vistry

The Vistry Group has seen a strong start to the second half of the year with its sales rate 20% ahead of last year since July 1 at 0.73 sales per active site per week (2019: 0.61) including Vistry Partnerships.

The firm reports a “record forward sales position” with forward sales totalling £2.7 billion for the group. Within that Housebuilding forward sales are up 17% to £1,478 million. The firm says it is therefore well positioned to deliver a stronger performance in the second half.

Reporting its half year results to June 30 2020, Vistry revealed that site closures had significantly impacted Housebuilding production in the six month period. The Group – which was formed by the integration of Vistry Partnerships and Linden Homes with what was previously Bovis Homes - completed 1,724 homes (HY19 proforma: 3,945) and reported a loss for the period of £12.2 million. The firm incurred £10.2 million of costs related to Covid-19 and received £6.3 million in relation to furlough claims. The Group says it will repay this in the second half of the year.

Greg Fitzgerald, Vistry’s chief executive, said: “Housebuilding’s first half performance was significantly impacted by the lockdown and resultant site closures. Vistry …