Double digit revenue growth for Barratt Developments with 'record' house completions

A national housebuilder has seen double digit growth in revenue despite the disruption caused by the pandemic.

Barratt Developments has reported a revenue increase of 10.2 per cent in the six months ending December 31, with profit before tax rising 1.7 per cent to £430.2m.

The company also saw a ‘record’ number of property completions - 9,077 compared with 8,314 in the same period of 2019.

David Thomas, chief executive of Barratt Developments, commented: “We have achieved a fantastic first half performance, with a strong rebound in completion volumes and good progress towards our medium term targets.

“We have also made a solid start to the second half and are now over 95 per cent forward sold for our financial year. Whilst we are mindful of the continued economic uncertainties, the housing market fundamentals remain attractive and our outlook for the full year remains in line with expectations.

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

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