Barratt Developments back to building in strong quarter

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Barratt Developments back to building in strong quarter

The price of shares in FTSE 100 property developer Barratt Developments (LON:BDEV) rose by 2.65% to 558.20p (as of 11:20 BST) after the company reported that completions during the quarter ended 11th October were up 24% year-on-year. The value of forward sales during the period was also 18.7% higher relative to the same point last year. Management said that the company was in a strong position, despite ongoing political and economic uncertainty.

CEO David Thomas commented: “Health and safety remains our number one priority and we remain focused on keeping our people safe while we rebuild completion volumes, bring further operational improvements to our business, and deliver on our commitment to build the highest quality homes across the country.

“There is continuing strong customer demand for our homes and we have a healthy forward order book. As we look ahead, whilst significant economic and political uncertainties persist, we believe our disciplined approach and strong balance sheet provide us with the resilience and flexibility to react positively to future challenges“.

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