Strong six months for East Midlands housebuilder

Coalville-based house building giant Barratt Developments has posted strong results for the six months ending 31st December 2016.

Revenues at the firm rose by 19 per cent to £1.8bn, whilst profits before tax also shot up – this time by 40.3 per cent to £295m.

The company completed 7,626 houses during the period – a rise of 9.4 per cent on 2014. Dividends rose from 4.8 pence to 6 pence.

David Thomas, chief executive of Barratt Developments said: “In line with our strategy, we have stepped up the number of completions in the first half and we did this in a disciplined way, both financially and operationally, without compromising on the quality of the homes we’re building.

“In the past five years we have increased our annual output by more than 53%, built more than 71,7001 homes and approved the investment of over £4.4 billion in new land for housing. The market remains strong as a result of improved mortgage availability and Government support for first time buyers and we will continue to grow in a way that delivers for the needs of homebuyers and shareholders alike.”