Barratt builds value after update

Shares in FTSE 100 housebuilder Barratt Developments (LON:BDEV) climbed 3.83% to 715.40p (as of 11:45 GMT) after the firm posted a trading update for the six months ended 31st December. Completions for the period were up by 9.2% and management said that the firm was 90% forward sold for the remainder of the year.

CEO David Thomas commented: “Throughout the pandemic, our teams have worked hard to make our operations COVID-secure and our first priority continues to be keeping our employees, sub-contractors, suppliers and customers safe. I’d like to thank our people for their efforts in helping us to rebuild completion volumes, drive further operational improvements and deliver on our commitment to build the highest quality homes across the country. Despite the ongoing challenges presented by the pandemic, we are confident that our operating performance and strong financial position provide us with the resilience and flexibility to respond to the operating environment in FY21 and beyond“.