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21/02/2018
Barratt Reports Record Rise In Pre-Tax Profits
Barratt Developments has reported a record rise in pre-tax profits for the six-month period ended 31 December 2017.
In its latest half-year results, the housebuilder recorded revenue increasing 9.5% to £1,988 million compared with £1,816.2m during the same period last year.
In addition, pre-tax profit was up 6.8% to £342.7m (2016: £231m) with completions also increasing 2% to 7,324 (2016; 7,180).
David Thomas, Chief Executive of Barratt Developments, said the company has had a "strong first half" thanks to "good consumer demand, a healthy forward order book and a robust balance sheet".
"As the UK's largest housebuilder, we enter our 60th year increasing our housing output, creating jobs and supporting economic growth across the country," he said.
"Having built more than 450,000 homes since 1958, Barratt remains focused on quality, design and industry-leading customer service while delivering homes the country needs."
Mr Thomas added the opening of a new division in Cambridgeshire will help Barratt to "continue to grow volumes and to meet the high demand for new homes in the region".
"The Cambridgeshire division will be creating around 50 new jobs over the next three years, with hundreds more supported in the supply chain and through local sub-contractors," he said.
(LM/MH)
In its latest half-year results, the housebuilder recorded revenue increasing 9.5% to £1,988 million compared with £1,816.2m during the same period last year.
In addition, pre-tax profit was up 6.8% to £342.7m (2016: £231m) with completions also increasing 2% to 7,324 (2016; 7,180).
David Thomas, Chief Executive of Barratt Developments, said the company has had a "strong first half" thanks to "good consumer demand, a healthy forward order book and a robust balance sheet".
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"As the UK's largest housebuilder, we enter our 60th year increasing our housing output, creating jobs and supporting economic growth across the country," he said.
"Having built more than 450,000 homes since 1958, Barratt remains focused on quality, design and industry-leading customer service while delivering homes the country needs."
Mr Thomas added the opening of a new division in Cambridgeshire will help Barratt to "continue to grow volumes and to meet the high demand for new homes in the region".
"The Cambridgeshire division will be creating around 50 new jobs over the next three years, with hundreds more supported in the supply chain and through local sub-contractors," he said.
(LM/MH)
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