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Barratts completes highest number of homes in nine years

By Chris Price

The UK’s largest housebuilder, which has 10 active sites in Kent, increased annual revenues by 10% to £4.6 billion, its latest results show.

Barratt Developments completed 17,395 homes in the year to the end of June, its highest level in nine years.

It confirmed a 39% hike in its final dividend to 17.1p as it reported pre-tax profits increased 12% to £765.1 million.

Barratt Homes development at the Orchards in Allington

Barratt Homes development at the Orchards in Allington

Alongside its own name, the FTSE100 housebuilder also builds under David Wilson Homes brand and formerly the Ward Homes brand based in Sunridge, Sevenoaks.

It completed 713 properties in Kent over the last year, of which 537 were sold privately.

“This has been another excellent year for the group,” said chief executive David Thomas.

Operating profit grew 20% to £799.2 million, while forward sales are up 13.8%, to £2.7 billion.

Mr Thomas added: “The group starts the new financial year in a good position with a strong balance sheet, healthy forward sales and we continue to see robust consumer demand supported by a positive mortgage environment.

“We are focused on driving further operational improvements through the business with a particular focus on margin improvement.”

He said: “We are committed to increasing the supply of new homes as the UK’s largest housebuilder and we remain industry leading in terms of quality and customer service.”

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