Vistry in line to deliver profits of more than £450m

In a trading update, Chief Executive Greg Fitzgerald, said: "We have continued to see improving market conditions and the Group has traded in line with our expectations for the year to date.

"The homes and places that Vistry is creating continue to respond directly to the needs of society, delivering mixed tenure housing for new communities across the country.

"The Group's forward sales position is strong, totalling £4,475m, with 75% of forecast FY23 Partnership mixed tenure units and 74% of forecast FY23 Housebuilding units secured.

"We are well positioned to manage costs, reflecting the enlarged Group's increased purchasing scale and the visibility of revenues within our Partnerships business, and for FY23 we are targeting to offset any inflationary cost increases.

"The integration of Countryside continues to make excellent progress and we expect to deliver £25m of synergies in FY23 and the full run rate of £60m by the end of FY24. I am increasingly confident on the outlook for Vistry for FY23 and expect adjusted profit before tax for FY23 to be in excess of £450m."