Barratt Developments PLC recently held it’s Annual General Meeting in London and issued a trading update for the 15 week period from 1 July to 13 October.
The Group has started the new financial year well with good customer demand for high quality new homes across the country. The sales rate from 1 July to 13 October was 0.72 net private reservations per active outlet per average week. In the equivalent period last year the sales rate was also 0.72 but this included two bespoke design and build arrangements, without those the sales rate in the equivalent period was 0.69.
David Thomas, Chief Executive commented: “We have started our new financial year well, with a good sales rate and a healthy forward order book. As the only major housebuilder to be awarded a 5 Star rating for customer satisfaction for ten years in a row, we continue to lead the industry in quality and customer service.
“Whilst there is economic and political uncertainty, we continue to be disciplined and have a strong balance sheet and cash position which we believe provide us with the resilience and flexibility to react to potential changes in the operating environment in FY20 and beyond. We maintain our focus on the delivery of operational improvements across our business, and our commitment to deliver the highest quality homes across the country.”
Ian Ruthven, Managing Director of Yorkshire West commented: “Barratt Developments Yorkshire East and West were recently crowned Best Residential Developer at the Yorkshire Residential Property Awards and it’s really positive to see that there is continued customer demand for high quality homes across Yorkshire and beyond. We look forward to continuing to deliver quality homes to address the housing shortage and help local people get a foot onto the property ladder.”
Daniel Smith, Managing Director of Yorkshire East commented:
”Barratt Developments retained its five star rating for the tenth year in a row in 2019, and we are determined to do the same in 2020 and beyond by delivering quality homes as sustainably as possible. We look forward to seeing what the next quarter brings and adapting to any changes in the property market.”