Barratt home completions to remain flat this year

Britain’s biggest house builder is predicting its completions will edge up to around 17,350 this year.

While the figure has edged up from last year’s figure of 17,319 to a nine-year high, the grow rate is well down on previous years.

In an upbeat trading statement ahead of Barratt’s June-year end, the firm said forward sales were at record levels, up by 13% to £3.2bn.

Barratt said its pre-tax profit is expected to be at the top of the range of current analyst estimates of £675m – £733m, despite near static completions.

Since the start of 2017 Barratt has launched 46 new developments and operated from 384 active outlets per average week against 375 the previous year.

Barratt said it expected average outlet numbers to remain broadly flat for its full year compared to 2016.

Chief executive David Thomas said: “This has been another strong period both operationally and financially for the group.  

“Our controlled approach to growth means we are on track to deliver 17,350 completions in the year, the highest number of completions in nine years.

“This, combined with the strong market backdrop, means we now expect full year profit before tax to be at the top of the range of current analyst estimates”

from Construction Enquirer http://www.constructionenquirer.com/2017/05/10/barratt-home-completions-to-remain-flat-this-year/

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