Home Commercial Property Barratt announce ‘strong performance’ so far this year

Barratt announce ‘strong performance’ so far this year

by LLP Reporter
10th May 19 11:22 am

Housebuilder, Barratt Developments, has announced that it has delivered a strong performance since the start of 2019, experiencing high customer demand aided by a stable market backdrop.

According to the firm, during the period from 1 January to 5 May 2019, the company’s net private reservations per active outlet per average week were 0.79 against 0.80 during the equivalent period in 2018.

It operated from 388 outlets, which matched the same period last year, launching 47 new developments (2018: 33). Barratt said it continued to anticipate average active outlet numbers for the full year being similar to 2018.

It added that it was progressing well with its medium term targets, with its focus on driving margin improvements through the firm.

And in improving its cost profile, Barratt said that this financial year it had refined its new housing ranges further with the ranges being rolled out across the business, “providing us with the flexibility to replan sites to suit market conditions and meet consumer demands should the need arise”. It added that the new ranges were compatible with modern methods of construction.

As of 5 May 2019, Barratt’s total forward sales were 2.4% ahead of the same point last year, at £3,365.1 million.

David Thomas, Barratt’s CEO said, “This has been another strong period for the group. As Britain’s largest housebuilder we remain firmly committed to delivering industry-leading build quality and customer service and we are proud to have been awarded five stars for customer satisfaction for ten years in a row.

“Trading since the beginning of the year has been strong, the outlook for the year is modestly ahead of our previous expectations and we are encouraged by our continued progress in driving operating efficiencies through the business.

“Whilst we continue to monitor the market closely, we are confident of delivering a good financial and operational performance in FY19.”

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