<p><span>Vistry Group – the former Bovis - has announced “another record year of profits” for the year ending December 31 2019.</span></p> <p><span>The newly formed group’s pre-tax profit rose </span><span>12% to £188.2 million against 2018, “ahead of market consensus”.</span></p> <p><span>Its total completions increased </span><span>2.9% to 3,867, with the average price of its homes lifting 2.6% to £280,200. Group revenue improved 6.5% to £1.13 billion while operating margin climbed 60 basis points to 17%.</span></p> <p><span>Vistry said it had made “excellent progress to date” with the integration of Bovis Homes and Galliford Try's Linden Homes and Partnerships &amp; Regeneration businesses to form the new group, with the acquisition completing in January.</span></p> <p><span>The Housebuilding division of Bovis and Linden had a “strong forward sales position”, Vistry said, with 48% of consensus housebuilding revenues for FY20 secured. </span></p> <p><span>But within housebuilding, after streamlining regional operations from 17 regional businesses to 13, Vistry said it anticipated an “8% reduction in headcount across the business including central services.”</span></p> <p><span>Meanwhile, Vistry Partnerships would “accelerate revenue growth through a step-up in land led, higher margin development”.</span></p> <p><span>Greg Fitzgerald, ceo of Vistry Group, said: “For the last three years, Bovis Homes has focused on putting the customer back at the …