Vistry’s profit on track

Nov. 12, 2020
<p><span>Vistry Group is the latest housebuilder to issue an upbeat trading update, with the business on track to deliver a full year pre-tax profit at the top end of its expected range of £130 million to £140 million.</span></p><p></p> <p><span>The group said that during the period from July 1 to November 11 2020, its homes demand had remained “consistently strong” at a private sales rate per outlet per week of 0.67 against 0.58</span><span> </span><span>during the equivalent period last year.</span></p><p></p> <p><span>It added that its performance had not been disrupted following the announcement of a second national lockdown, and the business was fully sold for its forecast total completions for FY 2020.</span></p><p></p> <p><span>The group’s housebuilding forward sales total </span><span>6,726 units compared to 5,729 in June 2020, carrying £1,536 million of revenue (June 2020: £1,264 million). Its mixed tenure forward sales total 1,657 units (June 2020: 1,604) on £358 million revenue (June 2020: £357 million).</span></p><p></p> <p><span>Meanwhile, Vistry Partnerships’ contracting forward order book totals £811 million (June 30 2020: £920 million).</span></p><p></p> <p><span>Vistry said it that for FY 2021 it expected to “step up” completions in both housebuilding and Partnerships, “supported by our record forward sales position and secured land supply”.</span></p><p></p> <p><span>The business also said it …

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