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Barratt reports highest number of completions in a decade – results

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  • 05/09/2018
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Barratt reports highest number of completions in a decade – results
Housebuilder Barratt reported the highest volumes in a decade in its final results for the year ended to June 2018.

 

The group said it completed 17,579 homes in the year to June, with an increase of 1.1% compared to 17,395 a year ago.

Profit before tax increased by 9.2% to £835.5m compared to £765.1m in the year ended to June 2017.

Revenue rose by 4.8% to £4,874.8m against £4,650.2m a year ago.

Forward sales are up 11.1%, as at 2 September 2018, at £3,054.0m compared to £2,749.9m the same period a year ago.

David Thomas, chief executive of Barratt Developments (pictured), said that the group has recorded another outstanding year with the highest volumes in a decade.

He added: “As the UK’s largest housebuilder we are helping to address the country’s housing shortage – creating jobs and supporting economic growth whilst continuing to lead the industry in quality and customer service.

“Our continued focus on operating efficiencies and margin initiatives is starting to deliver and we have today announced new medium term operational targets reflecting our confidence in the business going forward.

“The group starts the new financial year in a good position with a strong balance sheet, healthy forward sales and robust consumer demand supported by a positive mortgage environment.”

 

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