Barratt promises 45,000 homes in 3 years
The housebuilder’s pretax profit rose 73.7% to £192.3m while private completions totalled 10,978 against 9,832 for the year ending 30 2012. Private average selling prices improved 6% to £213,900.
Mark Clare, group chief executive, said: “The strength of current trading and our forward order book, coupled with the expected delivery of around two thirds of completions from higher margin land, gives us confidence of another substantial improvement in performance in FY14.”
He described the sales performance as “excellent” boosted by the launch of the Help to Buy scheme in the final quarter which meant the company “saw a particularly strong sales performance”.
Since the end of June, Barratt has seen a 29.4% increase in its average net private reservation rate against the same period last year.