Vistry to see surge in completions in 2024

Vistry Group says it is on track to deliver more than 18,000 completions in 2024, an increase of more than 10% on last year (FY23: 16,118) and up from its previous expectation of 17,500 units. Around 4,000 of the units this year will be timber framed.

In a trading update issued today (May 16), the firm says it has a strong forward sales position up 10% on the prior year totalling £4.9 billion (2023: £4.5billion) of which £2.1 billion is for delivery this year. Vistry expects half year and full year profit to be ahead of last year and remains confident in achieving a 40% ROCE and £800 million operating profit in the medium term.

Vistry chief executive Greg Fitzgerald said: "The group has had a good start to the year with our unique Partnerships model clearly demonstrating its market resilience. Working closely with our partners, we are seeing good demand in the Partner Funded market and accompanied by an improving trend for our open market sales, are on track to deliver more than 10% growth in completions in FY24, with half year and full year profit expected to be ahead of last year. This is underpinned by …