Barratt expects pre-tax profit to rise by 9% by September report

摘要

The country's biggest housebuilder has said it expects pre-tax profit to jump by 9% when it announces it interim results on 4 September. Barratt said pre-tax profit for the six months to June would be in the region of £910m, while operating margins had risen to 18.9%, up by 1.2 percentage points, with underlying margin improvement of roughly 70 basis points, driven mainly by margin initiatives. It said it had delivered the highest number of homes for 11 years, completing 17,856 up by 1.5%, while wholly-owned completions rose by 2.6% to 17,111 homes. The job of exiting work in London was continuing, with just 18 wholly-owned homes in the capital waiting to legally complete. Two remaining JVs in London were also nearing completion, the firm added.