Author Topic: Another bumper year for Barratt - Pre tax profit up by 45% to £565m  (Read 2489 times)

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"The test of our progress is not whether we add more to the abundance of those who have much
It is whether we provide enough for those that have too little."
    Franklin D Roosevelt

Another bumper year for Barratt.
Barratt announced in their Annual Report for the year to 30 June 2015, that the company built 16,447 new homes in the period, up 10% on the previous year. This enabled pre tax profits to soar by 45% to £565.5m on the back of increased revenue, up 19% to £3,759.5million with an operating margin of 15%

Barratt acknowledge that Help To Buy - the government 20% "subsidy" to the industry - had accounted for 31% of the company's legal completions for each of the last two years.  This has enabled all housebuilders to increase their prices as demand has outstripped supply, with Barratt reporting an increase of 8.7% in their average selling price to £262,500 in the last 12 months.

Like many housebuilders, Barratt also stated that 16,956 plots had been added to its landbank, which currently stands at 70,523 plots in total, sufficient for 4.5 years' supply.

On 1 July 2015, CEO David Thomas took over from Mark Clare who has retired after nine years at the helm. 
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