Vistry Group is expecting to more than double its profit, following an “excellent year”.
The housebuilder said it expected 2021’s full-year pretax profit to be £345m, a marked improvement on 2020’s £144m.
The firm added that it had built up its cash holdings to £243m from last year’s £38m, while boosting margin to 22%. Its full results will be published in March. Forward sales were also up by 24% to £1.94bn.
Chief executive Greg Fitzgerald said: “2021 has been an excellent year for Vistry Group with progress and success achieved across all areas of the business.”
He added that Vistry was “supportive” of the government’s plans to find a solution to the cladding and building safety crisis.
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