Firm completes highest number of homes for a decade
Barratt says it has completed the most number of homes in a decade in a trading update published this morning.
The country’s biggest housebuilder said it finished 17,579 homes in the year to June – its best performance for 10 years.
But the number was up by just over 1% from the previous year’s number of 17,395.
The firm said it was expecting to post a record £835m pre-tax profit – a rise of 10% on 2017’s £765m – when it publishes its annual results on 5 September.
Barratt also confirmed it would be paying special dividends of £175m in November 2018 and 2019 as part of its five-year plan to return £1.9bn to shareholders.
Thomas added: “This has been another strong year for the group, both financially and operationally.â€
The firm said its private average selling price rose 5% to £329,000.
It said trading in central London had been better than expected. Since May it completed sales on 190 homes at an average selling price of £1,190,000.
Earlier this year, chief executive David Thomas (pictured, middle) told Ðǿմ«Ã½ it has stopped buying sites in the zone one and two areas of London and is concentrating on zones three to six, where it is building 1,100 units at a former Nestle factory in Hayes and a further 1,500 units close to the railway station in Harrow.
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