Barratt Developments PLC, Britain’s largest housebuilder, completed their highest half year completion rate in 12 years during the final six months of 2019.
The developer’s 8,314 completions between June and December 2019 reflected 9.1% growth on 2018’s completion figures.
The company has further speculated that their 2020 completion growth is set to rise by an additional 3-5%.
Overall, Barratt Developments PLC’s revenue increased by 6.3% year on year from £2.132 billion in the final six months of 2018 to £2.266 billion last year.
Similarly, the company’s profit before tax also increased by 3.7% from £408 million in 2019 to £423 in the final six months of 2019.
Commenting on the results 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.”
