Barratt Has £3.3bn Of Forward Sales

In its latest Trading Update Barratt Developments plc said that it has £3,365.1m of forward sales – or 14,181 properties – up 2.4% on the same period in the previous year.

The update for the period 1 January – 5 May also reported that net private reservations per active outlet per average week fell very slightly to 0.79 from 0.80 the year before.

The company suggested that the outlook for the full year was broadly positive. David Thomas, Chief Executive commented: “This has been another strong period for the Group.” He continued: “Trading since the beginning of the year has been strong, the outlook for the year is modestly ahead of our previous expectations and we are encouraged by our continued progress in driving operating efficiencies through the business.

“Whilst we continue to monitor the market closely, we are confident of delivering a good financial and operational performance in FY19.”

Most house builders have, of course, been reporting good results of late aided by continuing low interest rates and Help to Buy. However, in a period when Brexit concerns have put the brakes on the wider housing market Barratt’s forward sales for new properties don’t look too shabby at all.

Source Barratt Developments PLC
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