FTSE 250 company Vistry, formed via Bovis’ £1.1 billion deal to buy Galliford Try’s housing arms last year, expects to more than double annual pretax profits to at least £310 million.
Pretax profits last year fell 43.5% to £98.7 million. The firm’s housebuilding sites were closed for some seven weeks during the first lockdown, which had a significant impact on the first half performance.
But Vistry had a stronger performance in the final six months of the year when the housing market was reopen and the stamp duty holiday was launched.
A number of people have reassessed housing needs during the pandemic, which has also helped boost housing demand.
