Vistry reported a higher profit for 2025, despite a 9% drop in total home completions to about 15,700 units. This decline affected both the Partner Funded and Open Market segments, attributed to market uncertainty early in the year. The Partner Funded completions decreased by roughly 8% to 11,600 units, while Open Market volumes fell to 4,100 units due to fewer sales outlets and cautious demand.

Vistry's adjusted profit before tax is projected to rise to approximately £270 million, up from £263.5 million the previous year. Revenue is forecasted to remain steady at about £4.2 billion. The company highlighted a strong operating margin progression in the second half, resulting in a full-year operating margin of 8.4%, up from 6.7%. Management credited improved site mix, cost control, and higher-margin developments for offsetting market pressures.

Average selling prices increased by about 3% to £282,000, driven mainly by geographical mix, while sales rates softened to 0.96 per site per week. Net debt at the end of December stood at roughly £145 million, down from £180 million a year earlier. Looking ahead, Vistry enters 2026 with a forward sales position of around £4.0 billion, providing solid visibility. The group anticipates increased affordable housing activity as funding clarity improves, despite near-term market uncertainties.

This update reflects Vistry's strategic efforts to navigate challenging market conditions. The company's focus on cost control and higher-margin developments has helped maintain profitability despite reduced volumes. Investors will be watching Vistry's full-year results in March for further insights into the company's performance and future outlook.