High profit expectations for Barratt Homes

Barratt Homes have seen an increase in home completions this year, with completions at 17,243, which included 726 homes from joint ventures, compared to last year’s total of 12,604 homes. This figure is on par with their 2019 figures (17,586 homes).

In terms of forward sales, results showed as of June 30 2021, they had a total of 14,334 homes which equates to a value of £3,473.5 million and reported net private reservations per active outlet per week of 0.78. Barratt expects to achieve an impressive profit before tax, at the top of end of the range of market expectations – £761 million to £812 million.

The business aim to regain completion volumes back to their 2019 levels by 2021 and continue to reach targets over the next three to five years to deliver 20,000 homes.

David Thomas, Barratt ceo, said: “It is thanks to the hard work, resilience and flexibility of our employees and subcontractors that we made such excellent progress this year, whilst maintaining our high standards of quality and service.

“We have seen continued strong demand for our high quality, energy efficient homes on well-designed developments, enabling us to deliver 17,243 home completions this year. Whilst these are still uncertain times, we enter the new financial year in a strong position and remain focussed on our medium term targets, including delivering 20,000 homes a year.”