Barratt Developments release half year results

Jessica Nangle

February 5, 2020

Barratt Developments saw the highest half year completions in 12 years with 8,314, which is a rise of 9.1%.

The housebuilder achieved an operating margin of 19.4%, which was 18.6% after adjusted items costs of £17.8m.

Barratt is the first UK housebuilder to set a science-based target by challenging themselves to reduce carbon emissions in their operations by around a third by 2025.

The outlook for the full year reportedly remains in line with the board’s expectations.

David Thomas, chief executive at Barratt Developments, said:“We have achieved a strong first half performance, delivering continued volume growth and making good progress against our medium term targets.

“We have made a good start to our second half and with substantial net cash, a well-capitalised balance sheet and strong forward sales, the outlook for the full year is in line with our expectations.

“The customer continues to be at the heart of everything we do.

“In 2019 we were proud to become the only major housebuilder to be awarded a five star rating by our customers in the HBF survey for ten consecutive years and look forward to extending that record.

“We will continue to lead the industry in quality and service as we deliver the high quality homes and developments the country needs, creating jobs and supporting economic growth across England, Scotland and Wales.”

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