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Home builder Vistry said it was confident of delivering on market expectations for its annual profits this year and next, amid a surge in first-half completions and sales rates.
The company's average weekly private sales rate had risen 10% year-on-year in the six moths through June to 0.76, while home completions had jumped to 3,126, up from 1,235.
Vistry said it had a forward sales position of £2.7 billion, with 93% of its forecast 2021 total housebuilding and mixed-tenure units secured.
It added that it was confident it would deliver consensus market expectations for the current financial year for an adjusted pre-tax profit of £329 million.
It also maintained its expectations for the 2022 financial year.
'The Group has had a very strong first half with a step up in completions, price increases, improved profitability and strong cash generation, all ahead of our expectations at the start of the year,' chief executive Greg Fitzgerald said.
'Market trends remain positive and we are seeing good demand for completions beyond the end of the stamp duty holiday.'
There is some pressure across the material supply chain in terms of price increases and extended lead times, but we are working well with our partners to ensure successful delivery of our build programme and expect this position to ease through the second half.'
'House price inflation is more than offsetting any cost pressure.'