Barratt Developments has recorded its highest level of completions in nine years.
National housebuilder Barratt has recorded a ‘strong performance’ in its most recent trading update – for the year ending 30 June 2017. The housebuilder’s profit before tax is now expected to increase to around £765m. Its total completions including joint ventures was at 17,395, slightly ahead of the 2016 figure of 17,319.
David Thomas, Chief Executive commented: “It has been another very strong year for the Group both operationally and financially. We have delivered our highest number of completions for nine years, more than any other housebuilder, and continue to see a positive mortgage environment and strong consumer demand.
“In March we were recognised as a five star builder by the Home Builders Federation for the eighth year in a row and we are determined to lead the industry in quality and service as we drive operational improvements through the business.”
The company has confirmed that market conditions remain supportive, with attractive mortgage financing and the support of Help to Buy driving strong consumer demand.
Publication of the company’s annual results is due to be on 6th September 2017.
Image: Barratt’s Cottam Meadow, development in Preston