Leicestershire-headquartered housebuilder achieves “strong first half performance”

Leicestershire-headquartered Barratt Developments has “achieved a strong first half performance,” with revenues and profits rising.

According to half year results, revenue rose 6.3% to £2.26bn, while profit before tax grew 3.7% to £423m.

The house builder also reported its highest number of half year home completions in 12 years with 8,314 total completions.

David Thomas, Chief Executive of Barratt Developments PLC, 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 5 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.”