Housebuilder鈥檚 sales up 46.5% in the financial year to date
Barratt has said it is on course for 鈥渟trong鈥� financial results for the year to 30 June, in a trading update for the 18 week period from 1 January to 4 May.
Barratt said total forward sales in the financial year up to 4 May were up 46.5% on the prior year to 拢1.9bn, up from 拢1.3bn the previous year, equating to 9,382 plots, up from 7,155 plots.
The housebuilder said it had 鈥渃ontinued to trade well鈥� over the period, with 鈥渟trong results seen across all key performance indicators鈥�.
The firm added: 鈥淚ncreased buyer confidence and the availability of attractive mortgage finance continue to support strong consumer demand for our homes.鈥�
It is on course to complete 14,250 units in this financial year.
Mark Clare, Barratt group chief executive, said: 鈥淭he improvements in our operational performance have been embedded in the business and will continue to serve us well in a stronger market.
鈥淥ur focus is now on FY15, and by June we expect to have secured more than 25% of our FY15 private sales, with planning now in place for 98% of total FY15 completions.
鈥淥ur disciplined approach to land buying will enable us to maintain an owned landbank of around 3.5 years and will support a significant increase in profitability and return on capital employed.鈥�
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