Profits up as Barratt looks to regions

Barratt Developments, the Coalville-based housebuilding giant, saw profits rise by 7% to £315m for the six months to 31 December, it announced this morning (12 January).

House completions were down over the period compared to 2015, but Barratt said that completions outside of London are at the highest level for nine years, offset by lower completions in the capital.

David Thomas, chief executive commented: “This has been another good half year for the Group. Consumer demand is strong benefiting from good mortgage availability and ongoing government support. Our healthy forward order book and this strong demand leaves us on track to deliver on our volume guidance for the full year.

“Barratt’s continued commitment to quality design, build and excellence in market‐leading customer service is reflected in our strong performance and ensures we remain a housebuilder of choice. Our focus remains on maintaining good operational and financial performance, and delivering attractive shareholder returns. The fundamentals of the market are robust.”