Barratt releases end of year results

Barratt Homes have reported another strong year with its financial results.

Pre-tax profits rose to £765.1M from £682.3M on revenue up to £4,650M from £4,235M. However, the figures also show that the ‘UK’s largest housebuilder’ built just 76 more homes than in 2016.

In the statement, Barratt Chief exec praised the company’s commitment to build quality and customer service, evidenced in it receiving more NHBC Pride in the Job Awards than any other housebuilder for the 13th consecutive year. While the Home Builders Federation awarded Barratt a maximum five star customer satisfaction rating for the eighth consecutive year.

Forward sales are also looking healthy with projects up 13.8%, including JVs.

Commenting on the results David Thomas, Chief Executive of Barratt Developments PLC said: “This has been another excellent year for the Group. We have delivered a strong operational and financial performance and our highest completion volumes for nine years. 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.”

 

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