In the firm’s half year trading update, it was revealed that 7,792 units had been completed in this period. This is up 9% from the 7,143 delivered in H1 2023.

Vistry ended up delivering 16,118 homes over the course of 2023.

This year, the group is sticking to its 18,000 completion guidance due to a forward sales position of £5.1bn, up 19% from 2023. This means the group is 91% forward sold for 2024.

This was due to “encouraging” sales performance in typically quieter summer months.

Elsewhere — on a reported basis — Vistry recorded an 11% increase in revenue with £1.9bn being generated in the first six months of the year.

This has led to an operating profit of £227m up 10% from the £206m recorded in the first half of 2023.

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A further £130m share buyback has been announced as part of plans to return £1bn of capital to shareholders within three years. The latest share buyback will commence later in September and be completed by the AGM in May 2025.

“We have traded well over the summer months, and with positive momentum across the business are on track to deliver more than 18,000 completions in FY24, and a year-on-year increase in profit,” said Greg Fitzgerald, CEO at Vistry (pictured above).

“We remain confident on delivering our medium-term targets of a 40% ROCE and £800m of adjusted operating profit. In addition, since the strategy update 12 months ago, I’m pleased that the Group has now announced or returned £285m of the targeted £1bn capital return to shareholders over three years.”