Revenues over the same period grew by just 7.2% to £2.13bn, with the builder pointing to “operating efficiencies” meaning the firm enjoying healthier margins.
Completions at Barratt, one of the largest housebuilders in the UK, reached 7,622, up by 4.1% on the same period in 2017.
This is notable given that in the year to June 2018, Barratt managed its highest completion levels in a decade, with 17,579 homes completed.
Net private reservations have dropped slightly, from 0.78 per active outlet per average week to 0.74. However, forward sales have jumped by 7.3% to reach £3bn, compared to £2.8bn this time last year.
David Thomas, chief executive of Barratt, said the firm had delivered a “strong operational and financial performance across the half year”.
He continued: “Operating efficiencies are delivering improved margins and our controlled and disciplined business model means we have a high-quality land bank, strong forward sales, excellent financial position and efficient cash flow generation.”
