Barratt Reaches Nine-Year High For Volume Completions

Barratt Developments has achieved it's highest completion volume for nine years despite building just 76 more homes than last year.

In its results for the year ended 30 June 2017, the housebuilder completed a total of 17,395 homes, a 0.4% compared with 17,319 last year.

Elsewhere, revenue rose 9.8% from £4,135 million to £4,650m while pre-tax jumped 12.1% to £765.1m (2016; £682.3m).


David Thomas, Chief Executive of Barratt, said 2017 had been "another excellent year" for the Group.

"We have delivered a strong operational and financial performance and our highest completion volumes for nine years," he said.

"We are committed to increasing the supply of new homes as the UK's largest housebuilder and we remain industry leading in terms of quality and customer service.

"The Group starts the new financial year in a good position with a strong balance sheet, healthy forward sales and we continue to see robust consumer demand supported by a positive mortgage environment. We are focused on driving further operational improvements through the business with a particular focus on margin improvement."

(LM)