Vistry – first-half sales rates improve | HL

Vistry – first-half sales rates improve | HL

Vistry’s first-half trading update reported a rise in the weekly average sales rate from 0.86 to 1.21. This was driven by strong demand and the transition of the business to a Partnerships model. First-half underlying operating profit is expected to rise around 10% to £227mn, helped by increased sales and lower building material costs. Total completions in the period were up around 8% to 7,750 new homes. The forward sales position has also risen 21% to £5.2bn. Net debt improved …