Barratt ‘modestly ahead’ of full-year forecast

Barratt Developments chief executive David Thomas

Coalville-headquarterd Barratt Developments says it is “firmly on track” to meet its full-year predictions after releasing a trading update this morning (9 May).

Total forward sales for the period from 1 January to 5 May were up 2.4% to £3.36bn and the housebuilder said it is making “good progress” on its medium-term targets.

Barratt’s outlook for the full year is “modestly above” its previous expectations.

David Thomas, chief executive, said: “This has been another strong period for the Group. As Britain’s largest housebuilder we remain firmly committed to delivering industry-leading build quality and customer service and we are proud to have been awarded 5 stars for customer satisfaction for ten years in a row.

“Trading since the beginning of the year has been strong, the outlook for the year is modestly ahead of our previous expectations and we are encouraged by our continued progress in driving operating efficiencies through the business.

“Whilst we continue to monitor the market closely, we are confident of delivering a good financial and operational performance in FY19.”

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