Billion-pound Barratt reports ‘excellent’ year
Coalville housebuilding giant Barratt has reported an “excellent” set of results for the year-ending June 30.
In a pre-close trading update this morning (July 14), the firm said that total home completions has returned to pre-pandemic levels, with 17,908 units completed – up from 17,243 last year.
Meanwhile, adjusted profit before tax is expected to be in the range of £1.05bn and £1.06bn – slightly ahead of expectations and a jump from last year’s figure of £919.7m.
David Thomas, chief executive, said: “We have delivered an excellent performance this year, reflecting the strong customer demand for our homes and the productivity of our sites. We are delighted that completions have now returned to pre-pandemic levels and I am grateful for the hard work and dedication of our teams and partners over the past two years to achieve this important milestone.
“While there are clearly macro-economic uncertainties ahead, the housing market remains robust, our forward order book is strong and we have the resilience and flexibility to react to changes in the operating environment. Our focus remains on addressing the UK’s housing shortage with the high-quality, energy-efficient, sustainable homes and developments which we pride ourselves on building.”
Barratt will publish its annual results on September 7.
