Housebuilder Barratt has reported a "very strong" financial performance for the first half of the year.
Half year profit before tax was up 8.8% to £312 million (2015: £295m), while revenue also rose 3.2% to £1,816.2m (2015: £1,875.5).
In addition, housing completions outside of London were at their highest level for nine years.
The company said it expects completions to grow in the second half of this year, with current record total forward sales (including JV's) up 17% at £3,018.2m.
David Thomas, Chief Executive, said the company is confident about its future outlook for the full year.
"As we reported in the January trading update, we have delivered another very strong first half performance, pre-tax profits were up nearly 9% and completions outside of London at their highest level in nine years," he said.
"Whilst we have increased volumes across the UK by 55% in the last five financial years, we have maintained our commitment to build quality and customer service and we are the only major housebuilder with the HBF 5 Star Customer Satisfaction Award.
"With a record forward order book, strong consumer demand and a positive lending backdrop, we remain confident in our outlook for the full year. Our confidence in the business going forward is reflected in the improved and extended Capital Return Plan."
(LM/MH)
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CONSTRUCTION DIRECTORY
Construction News
23/02/2017
Barratt Reports 'Very Strong' First Half Financial Performance
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