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Barratt, Britain’s largest housebuilder, expects to notch up its highest rate of completions this year since the financial crisis hit in 2008.
In a trading update for the three months to the end of March, Barratt said total completions including joint ventures were expected to be in the region of 17,350 in 2017 while full year profits would be at the “top of the range of current analyst estimates” of £675m-£733m.
David Thomas, chief executive said:
This has been another strong period both operationally and financially for the Group.
We remain firmly committed to delivering industry leading build quality and customer service.
Barratt said it was benefiting from solid market conditions driven by a competitive UK mortgage market and government support for prospective homeowners through its Help to Buy scheme.
The company’s wholly owned completions are set to come in at 16,650 with joint ventures around 700 for the year. Barrat’s overall sales rate also edged up to 0.8 from 0.78 last year.