Barratt builds on success
Barratt Homes has announced its half year results, showing a strong performance and growth from the UK’s leading housebuilder.
Completions are already up on 2016, with 7,324 plots completed and sold; leading to good growth in profits which jumped 6.8% to £342.7M. Barratt credits the performance with strong customer demand leading to confidence in the market.
2018 marks Barratt’s 60th anniversary, and company is proud to have remained at the forefront of British construction, boasting more NHBC Pride in the Job Awards for site management than any other housebuilder, for the 13th consecutive year. Barratt’s commitment to customer service has also led to it receiving National Supreme Award in the Large Builder category for its site at Forest Chase, Leicester.
Commenting on the results David Thomas, Chief Executive of Barratt Developments PLC said: “With good consumer demand, a healthy forward order book and a robust balance sheet, overall we have had a strong first half and we continue to deliver against our operational and financial objectives.
“As the UK’s largest housebuilder, we enter our 60th year increasing our housing output, creating jobs and supporting economic growth across the country.
“Having built more than 450,000 homes since 1958, Barratt remains focused on quality, design and industry-leading customer service while delivering homes the country needs.”
The report has also revealed Barratt’s plan to open a new division in Cambridgeshire, reflecting the high demand in the region. Over 50 jobs will be created in the next three years, with hundreds more supported in the supply chain and local contractors.
It is through this commitment to delivering quality homes that Barratt is investing in its award winning apprenticeships, helping to train the housebuilders of the future in the very latest methods of construction.
Increasing volume and efficiency will be a priority for the company in the coming years, and further investment is being made into the researching and trialling the latest developments, as Mr Thomas explained: “We are also implementing a number of key initiatives in terms of improving efficiency and growing volumes in the future. In addition to building around 1,270 homes during FY17 using timber frames, we have completed trials of light gauge steel frames and large format blocks with positive results. These provide similar benefits to timber frame, such as increased build speed and reducing our reliance on certain traditional construction methods. We continue to trial various new offsite technologies, including offsite concrete garages and offsite ground floor foundation systems. We are also researching and applying smart technologies to better understand the needs of our customers in the future.”
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