Barratt’s forward sales are up 43% with houses representing a higher proportion of expected completions than the previous year.
In a statement to the City today (January 14) ahead of its interim results covering the six months to 31 December 2009, the volume housebuilder said it held £651.2 million of projected sales as of the end of December, against £455.8 million over the same period in 2008.
Barratt said that since re-entering the land market in the mid 2009, it had agreed terms on £315 million of land purchases, equating to 7,730 plots and 4.3 years supply.
The company had also seen a “better than expected” debt reduction to around £610 million from £1,276.9m as of 30 June 2009.
Barratt commented that the market had experienced a “measure of recovery” over the past six months. But it warned: “We remain cautious, with growth likely to be constrained by economic uncertainty and a lack of mortgage finance.”
See Also: Property News (0), Barratt Homes (0)
Date Published: 14 January 2010
Related News
