Barratt set to post record profits

Barratt Developments chief executive David Thomas

Coalville-based housebuilding giant Barratt is set to post record year-end profits, it said in a trading update this morning (11 July).

The firm says profits will rise to £835m ahead of its annual results on 5 September, with house completions the highest for a decade.

David Thomas, chief executive, said: “It has been a very good year for the Group both operationally and financially with strong customer demand for our high quality new homes across our business. As we celebrate our 60th anniversary we have delivered our highest number of completions in a decade, reinforcing our position as the UK’s largest housebuilder, whilst continuing to lead the industry in customer satisfaction and build quality.

“We begin the new financial year with a healthy forward order book, a strong cash position and a continued focus on delivery of operational improvements across our business. Across the country we are building much-needed new homes, creating jobs and supporting economic growth.”

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