LONDON (dpa-AFX) - British housebuilding company Vistry Group Plc said that total Housebuilding completions for the first half of the year 2021 increased to 3,126 units from 1,235 units last year.
Total Housebuilding average selling price in the period was 299 thousand pounds compared to 294 thousand pounds in the prior year.
The company continues to see strong demand across all areas of the business, sites are operating well, and the strategic benefits of the enlarged Group are starting to be realised.
The company said it is confident that it will deliver consensus market expectations for fiscal year 2021 and maintained its expectations for fiscal year 2022.
The company noted that housebuilding remains on track to deliver a significant step-up in completions to about 6,500 units, and an improvement in adjusted gross margin to 22% in fiscal year 2021. Partnerships expects to deliver significant growth in higher margin mixed tenure completions in 2021, driving margin progression and is firmly on track to meet its fiscal year 2022 targets of 1 billion pounds revenue and an adjusted operating margin of 10% plus.
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