Housebuilder latest to report strong selling in weeks after referendum

Barratt has said it is moving back to 鈥渂usiness as usual鈥� after the Brexit vote, after striking a cautious note and cooling on development in the immediate aftermath.

, Barratt said reservations since the referendum were actually up on the same period last year, and said 鈥渃urrent trading trends are positive鈥�.

Barratt chief executive David Thomas (pictured) said: 鈥淥ur sales trends since the start of the new financial year have been encouraging, and underpin an increasingly 鈥榖usiness-as-usual鈥� stance whilst we continue to monitor consumer, economic and other lead indicators closely following the EU referendum vote.

鈥淭he wider market for new homes remains healthy across Britain, with a long term undersupply of new homes, strong government support to the sector and a liquid mortgage market.鈥�

In results for the year to June this year, Barratt posted a 21% jump in pre-tax profit to 拢682.3m, up from 拢565.5m the previous year, while revenue increased 13% to 拢4.26bn, up from 拢3.76bn. Completions rose 5% to 17,319.

The firm also said it would up its use of timber frame construction to 1,300 homes this financial year.

Topics