Barratt house building levels not yet at pre-pandemic levels
Barratt (LON:BDEV), the homebuilder, is expecting its profits to exceed expectations amid a booming housing market.
The housing sector has continued to reap the benefits from increased demand for housing and tax holidays.
The homebuilder built 17,243 homes during the year ended in June 2021. It is an increase of 5,000 homes compared to the year before.
For the year ended in June 2019, Barratt constructed 17,856 homes, which means the company is yet to surpass its pre-pandemic levels, despite the strong performance during the past year.
The FTSE 100 company is expecting to see its adjusted pre-tax profits come in slightly above analysts’ expectations which were between £860m-£899m.
David Thomas, chief executive of Barratt Homes, expressed his delight at the company’s results:
“It is thanks to the hard work, resilience and flexibility of our employees and sub-contractors that we made such excellent progress this year, whilst maintaining our high standards of quality and service.”
“We have seen continued strong demand for our high quality, energy efficient homes on well-designed developments, enabling us to deliver 17,243 home completions this year. Whilst these are still uncertain times, we enter the new financial year in a strong position and remain focussed on our medium term targets, including delivering 20,000 homes a year.”
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