Barratt sees profits soar by 65% after ‘excellent’ year
Leicestershire housebuilding giant Barratt has hailed a “year of excellent performance” after profits at the firm jumped by over £300m.
For the year-ending June 30, Barratt made a surplus of £812.2m – up from £491.8m last year, while revenues also soared – up to £4.81bn from £3.42bn a year ago.
Total home completions rose by almost 37% to 17,243 over the period.
David Thomas, chief executive of Barratt Developments, said: “We have made excellent progress this year thanks to the resilience, flexibility and hard work of our employees, sub-contractors and suppliers, who have also continued to deliver the highest standards of quality and service. We have begun the new financial year in a strong position and, whilst there are still uncertainties ahead, our strong balance sheet, forward order book visibility and construction activity to date all stand us in good stead.
“There is very strong demand for houses across the country and we play a crucial role in providing the high quality and sustainable homes this country needs. As we work towards our medium term target of growing completions to 20,000 homes a year, we are committed to doing so as the leading national sustainable housebuilder – building homes which have a positive environmental, social and economic impact today and into the future.”
