Vistry has tripled its profit over the past year as revenue rose by a third to £2.7bn.
The housebuilder’s annual results, published this morning, show profit before tax for 2021 rising to £319.5m from the previous year’s 98.7m. Earnings per share were up 230% to 114.6p.
Vistry has also built up its cash holdings over the period, from £38m in 2020 to £235m. Total completions rose by 24% from 8,954 to 11,080.
Chief executive Greg Fitzgerald praised the housebuilder’s “significant step up in financial performance”, adding that 2022 had got off to an “incredibly positive start… notwithstanding the shocking events in Europe and the attendant political uncertainties”.
Private sales rates were up by 20% over the past five weeks, with forward sales up 23% to £2.15bn.
Fitzgerald added: “The group is in great shape to deliver on its strategy of maximising the strengths and opportunities from the valuable combination of our Housebuilding and Partnerships businesses, and on achieving sector-leading returns in the medium term.”
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