Barratt sees completions soar

Barratt sees completions soar

Barratt saw completions increase by almost 10% year on year in the second half of 2015 to 7,626 as revenue rose 19% to £1.875 billion with margin up 1.2 points to 18.6%.

Announcing its half yearly financial report for the six months ending December 31 2105, Barratt said that the firm was increasing completions “in a disciplined way, both financially and operationally” in line with its strategy.

The firm said it had seen a strong start to 2016 with total forward sales at February 21 up 13.4% to £2.579 billion. However net private reservations per week are down to 260 compared with 279 last year, although the rate per active site per week remains at 0.71.

Barratt CEO David Thomas said: “The market remains strong as a result of improved mortgage availability and government support for first time buyers and we will continue to grow in a way that delivers for the needs of home buyers and shareholders alike.”

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