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Housebuilder Barratt has denied it has any imminent plans to ask investors for cash via a rights issue.

Speaking this morning at the company's trading update for the first 19 weeks of 2009, chief executive Mark Clare said he was focused only on 鈥渕anaging the company within the current constraints鈥�.

Speculation that Barratt would do a rights issue has intensified in recent weeks after Taylor Wimpey raised 拢510m from investors. It is thought the company would take advantage of improved sentiment towards housebuilders since January and get near the front of the queue of construction-related stocks asking investors for cash. This week Travis Perkins and Marshalls have both done rights issues.

Clare said: 鈥淭here are no current plans. Taylor Wimpey was a different situation because there was a requirement to raise equity as part of the refinancing deal.鈥�

But he conceded such a move might become necessary in future. 鈥淚n the longer term if the market continues to improve, then who knows? If there comes a point when there are big investment opportunities for us then you need to look at alternatives.鈥�

The company said there had been 鈥渆arly signs of stability鈥� in the market since the start of the year.

鈥淥ver time, it is hoped that the measures introduced to increase mortgage lending will provide additional support to the market. However, volumes are currently at low levels, mortgage finance remains constrained and visibility is limited. We therefore remain cautious as to near term trading prospects.鈥�

It said it expected to continue to comply with its banking covenants based on 鈥渃urrent trading and detailed forecasts鈥�.

Since January

• Net reservations 鈥� 0.47 per week per site, up 4.4% on the same period last year and up 20.5% compared with the six months to 31 December 2008
• Visitor levels 鈥� down 6%
• Cancellation rates 鈥� down to 16%, compared with 25.7% in 2008
• Forward order book 鈥� 拢778.2m (5,253 plots), up from 拢455.8m (3,529 plots) on 1 January 2009.