Record profits at Barratt as firm builds most homes for a decade

Coalville-based housebuidling giant Barratt Developments has posted a hike in both revenue and profits for the year-ending 30 June.

Turnover at the company rose to £4.87bn while profit before tax was up nearly 10% to £835.5m.

Barratt built 17,579 homes during the year – the highest for a decade.

David Thomas, chief executive of Barratt Developments said: “The Group has had another outstanding year delivering a strong operational and financial performance, and our highest volumes in a decade. 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.”