Vistry has said it is on track to make £345m pretax profit as forward sales grow to £3bn.
The housebuilder said it was now fully sold for the 2021 financial year, with housebuilding forward sales at £1.6bn, partnerships’ mixed-tenure forward sales at £511m and the partner delivery forward order book rising to £855m.
Chief executive Greg Fitzgerald said: “We are making great progress towards our targets in both Housebuilding and Partnerships, with a firm focus on maximising the strengths and opportunities from our unique combination.”
He added that Vistry was “actively mitigating any supply chain pressures” and was “firmly on track” to improve its profit this year.
“The outlook is positive and we are confident we will see a further step up in performance in FY22 as we drive towards achieving our medium-term targets,” he said.
Vistry said that it expected gross margin to grow to 23% next year, with operating margin in excess of 12%.
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