“Solid” reservations drive up Barratt Redrow profit expectations

Barratt Redrow expects its full year profit to be at the upper end of expectations, it said today (February 12), with the combined housebuilder heading for 22,000 homes annually in the medium term and set to make £100 million in savings from the merger.

Reporting on its first half year results as an integrated business, the housebuilder commented that it had seen “solid” reservation activity since the start of January. Its adjusted profit before tax for FY 2025 is expected to be towards the top end of a £506 million to £588 million range.

During the six months to December 29 2024, the combined company’s statutory pre-tax profit increased 23.1% to £117.2 million against the equivalent period the previous year. Revenue rose 23.2% to £2,280.8 million.

The group achieved 6,846 total home completions, up 10.9%.

Its net private weekly reservation rate improved 33% to 0.60 compared to 0.45 aggregated performance for Barratt and Redrow in the comparable period.

The business said that since receiving clearance from the Competition and Markets Authority on October 4, its joint integration team had “made good progress in bringing the two businesses together”.

It is set to deliver …