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Barratt boosts forward sales of affordable units by 20%
Barratt Developments has boosted forward sales of affordable homes by 20% and forecasted record profit.
The Leicestershire-based house builder told the City today that it expected to make about £835m of pre-tax profit in the 12 months to the end of June this year.
Figures released in a trading update included forward sales of £794m of plots for affordable homes as of 30 June, up from £661.5m a year earlier.
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Completion of affordable units was down slightly at 3,241.
But overall completions were the highest in a decade at 17,579.
David Thomas, chief executive of Barratt Developments, said: “It has been a very good year for the group both operationally and financially, with strong customer demand for our high-quality new homes across our business.
“We begin the new financial year with a healthy forward order book, a strong cash position and a continued focus on delivery of operational improvements across our business. Across the country we are building much-needed new homes, creating jobs and supporting economic growth.”
The company’s full annual results are expected on 5 September.
