Barratt reports rise of 5% in completions

Barratt reports rise of 5% in completions

Total completions, including joint ventures, have increased by 5.3% to 17,319 at housebuilder Barratt. 

The national housebuilder also reported that profit before tax is expected to increase by around 20% to approximately £680m in a trading statment covering the period to the end of June 2016.

Commenting on the results David Thomas, Chief Executive said: “We have delivered another strong performance for the year. The disciplined growth in completion volumes reflects the strength of our sector leading build and sales teams.

“Following the EU referendum, it is too early to say what the impact of the uncertainty facing the UK economy will be. The sector continues to receive focused government support, mortgage availability is good and there remains an undersupply of new homes. With a strong balance sheet and forward order book, and industry leading quality and customer service, we remain confident in the positive fundamentals of both the housing sector and our business.”


Related posts