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Vistry Group On Track To Deliver FY21 Profit Before Tax Of About £345 Mln

Vistry Group plc (VTY.L), on Tuesday, issued trading update for the period from 1 July to 8 November 2021, and said it is "firmly on track" to deliver profit before tax for FY21 of about £345 million and target of about £225 million net cash at year end.

The company continues to see strong demand across all business areas with its average weekly private sales rate increasing to 0.77 for the year to date, slightly ahead of the 0.76 reported in the first half.

Further, Vistry noted that its forward sales position has strengthened to £3 billion. Housebuilding forward sales totaled £1.6 billion, Partnerships' mixed tenure forward sales were £511 million and the Partner Delivery forward order book amounted to £855 million.

Greg Fitzgerald, Chief Executive said, "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. Delivering high quality, sustainable homes and communities, providing excellent customer service and investing in our people are all at the core of how we operate and are key to our ongoing success."

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