Vistry Group has reported 2025 performance “in line with guidance”, as adjusted pre-tax profits rose 2% year on year, from £263.5m to £268.8m, despite a 4% fall in revenue to around £4.155bn.
Total 2025 housing completions stood at 15,658, down 9% from 17,225 in 2024, while its sales rate for the year averaged 0.96 sales per site per week, down from 1.07 in 2024.
The results came as chair and chief executive Greg Fitzgerald announced plans to retire. He will step down as chair on 13 May, but continue as chief executive for up to 12 months, or until a successor is appointed.
Fitzgerald said the drop in revenue reflected continued challenges in the market as well as uncertainty in the run-up to the Autumn Budget in late November, which delayed the timing of some partner funded deals.
The group’s performance improved in the second half, he added, after profits fell 33% in H1 to £80.6m. This was in line with previous profits guidance, after the group took a £164m hit from build cost miscalculations in its Southern division in 2024.
The group’s net debt fell from £180.7m at the end of December 2024 to £144.2m. Adjusted basic earnings per share also rose 6% year on year from 55.9p to 59.3p.
Last year, the group secured land plots and development opportunities for 12,599 homes, down from the previous year’s 16,508 plots.
“These results are testament to the incredible hard work of our teams and demonstrate the resilience of our differentiated market positioning and the commitment of our partners,” Fitzgerald said.
“Vistry delivered one in seven of the country’s affordable homes last year, which demonstrates the crucial role the business plays, and will continue to play, in building the homes the UK so desperately needs.
“While near-term market conditions remain challenging and current international events introduce new uncertainty, we have started the year positively. Sales volumes are already benefitting from the targeted use of pricing initiatives and incentives to build momentum into the spring selling season.”
Last year, Vistry contributed £12.8m of an overall £100m paid to the Competition and Markets Authority by seven of the country’s largest housebuilders to settle the regulator’s investigation into information sharing.
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