<p><span>Barratt Developments expects new home completions and reservations to be “very limited” while its sales centres and sites remain closed during the coronavirus crisis, it said today (April 16).</span><span></span></p> <p><span>Issuing an update on trade and measures to combat the pandemic, the volume housebuilder said it was in the process of furloughing around 85% of its employees. And to continue to focus on conserving cash, all executive directors, the wider executive and regional managing director team, and chairman and non-executive directors will take a 20% reduction in base salary and fees, “until such time as the group is able to restart work on site”.</span><span></span></p> <p><span>Between March 23 and April 12 2020, Barratt achieved 1,349 home completions. With a year end of June 30, the firm completed 11,713 homes (2019: 10,954 homes) in the period to April 12 2020. Its total forward sales stand at 12,376 homes at a value of £2,891.9 million.</span><span></span></p> <p><span>Barratt reiterated that it had suspended all forward guidance “given the ongoing uncertainty, particularly in the duration of the closure of our sales centres and construction sites”.</span><span></span></p> <p><span>As of April 14, Barratt said it had around £450 million of cash and total committed facilities and private placement notes of …