Strong demand as Barratt boosts building

Barratt completed 17,243 homes in the year ending June 30th 2021, 36.8% ahead of last year and 3.4% below the 2019 level of 17,856.

Announcing its annual results today, Barratt said revenue reached £4,811.7 million in the year, 40.7% ahead of last year and pre-tax profit was £812.2 million, up 65.1%. Gross margin reached 21%.

Commenting on the results David Thomas, ceo of Barratt, said: “We have made excellent progress this year thanks to the resilience, flexibility and hard work of our employees, subcontractors and suppliers, who have also continued to deliver the highest standards of quality and service. We have begun the new financial year in a strong position and, whilst there are still uncertainties ahead, our strong balance sheet, forward order book visibility and construction activity to date all stand us in good stead.”

Reinforcing the views he gave in this month’s Housebuilder SWOT analysis, Thomas added: “There is very strong demand for houses across the country and we play a crucial role in providing the high quality and sustainable homes this country needs. As we work towards our medium term target of growing completions to 20,000 homes a year, we are committed to doing so as the leading national …