Vistry, the housebuilder formerly known as Bovis, said expects to generate savings of around £35m a year once its £1.1bn merger with Galliford Try’s housing operations is fully bedded in.

Announcing its results for the year to 31 December 2019 today, chief executive Greg Fitzgerald said of the £35m annual savings, at least £20m a year is expected to come from streamlining the group’s regional and operational models. It has already cut the number of its housebuilding regional business units from 17 to 13.