Vistry Increases Annual Home Completions Forecast to 18,000

UK: Vistry has raised its annual completions forecast to over 18,000 homes for FY24, reflecting robust demand for affordable housing. This represents a significant increase from the 16,118 homes completed in 2023 and surpasses the company's earlier estimate of 17,500 units. Vistry's strategic shift to a partnerships model has bolstered its market resilience, with a strong forward sales position of USD 6.2 billion. The company anticipates higher half-year and full-year profits compared to last year's USD 387 million pre-tax profit and aims for an USD $1 billion operating profit in the medium term. Vistry's partnerships approach, focusing on long-term investors, positions it to potentially reach 25,000 homes annually. Vistry Group is in UK, a provider of affordable mixed tenure homes.

Source: Housing Today