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Gloucestershire Business News

Vistry build on demand for strong performance

Housebuilder Vistry is predicting a profit before tax for 2020 of around £140million after seeing strong demand for its homes in the second half of the year.

Vistry, which was formerly known as Bovis Homes and has a regional office in Bishop's Cleeve, said it expects the profit to be at the end of predictions when its full-year results are announced next month.

The company, which said it will resume dividend payments, is predicting profits of £310million in 2021 if the current demand continues.

Private sales per week jumped 15 per cent in the second half of the year.

Chief executive Greg Fitzgerald said: "Vistry Partnerships has made excellent progress against its ambitious growth strategy in 2020 with a near 30 per cent increase in mixed tenure completions.

"The group has strong forward sales and is well positioned to deliver a significant step-up in profitability in 2021."

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