<p><span>Barratt Developments and Berkeley Group have reported to the city today (September 5) with Barratt reporting “another outstanding year” and Berkeley continuing to progress in the challenging London and south east market. </span></p> <p><span>During its year ending June 30 2018, Barratt achieved its highest number of completions for a decade at </span><span>17,579 completions in total, although this was a modest 1.1% increase on FY 2017. Private completions rose 1% to 13,439.</span></p><p></p> <p><span>Barratt’s total average selling price lifted 5% to £288,900 with the private ASP also increasing 5% to £328,800.</span></p><p></p> <p><span>Profit before tax rose 9.2% to £835.5 million, with revenue improving 4.8% to £4,874.8 million. Barratt’s operating margin increased 50 basis points to 17.7% as its margin initiatives “have started to deliver</span><span>”.</span></p><p></p> <p><span>The firm said that its full year sales rate was in line with the prior year at 0.72 net private reservations per active outlet per week in the full year and 0.77 (2017: 0.76) in the second half. During the year, it operated from an average of 380 active outlets against 2017’s 377.</span></p> <p><span>Forward sales as of September 2 2018 were up 11.1% against the equivalent period in 2017 to £3,054.0 million. Barratt’s net private reservations per active outlet …