Vistry Partnerships boss Teagle confident of hitting ambitious targets

Vistry Partnerships ceo Stephen Teagle says he is “very confident” that the firm can achieve the challenging targets set out in its Project 6000 initiative despite the impact of Covid-19.

The firm is aiming to build 6,000 homes a year on a turnover of more than £1 billion by 2022. It is also driving margin growth to greater than 10%. Presently Vistry Partnerships builds around 4,000 homes.

“As we look forward I am very confident we can achieve the targets we have set out,” he told Housebuilder. “Demand is high and palpable for affordable housing and private rental sector homes and we are winning contracts.” He points to a positive forward order book as a sign that the targets can be met.

Teagle was speaking as Vistry Group unveiled its results for the first half of the year in which Group ceo Greg Fitzgerald highlighted the resilience and strength of Partnerships in the difficult period.

Teagle said that the first half of the year had been “the most challenging that most people in the industry have ever experienced”. Vistry Partnerships sites were shut down alongside the rest of the industry, but were able to re-start quicker than some – partly because some of …