9th May 2019 08:26
LONDON (Alliance News) - Barratt Developments PLC on Thursday said its full-year outlook is currently "modestly above" the board's previous expectations as forward sales to date rose 2.4% on a year before.
For the period between January 1 and May 5, the housing developer's forward sales rose to GBP3.36 billion, equating to 14,181 units, compared to GBP3.28 billion a year ago.
"This has been another strong period for the group. Trading since the beginning of the year has been strong, the outlook for the year is modestly ahead of our previous expectations and we are encouraged by our continued progress in driving operating efficiencies through the business," Chief Executive Officer David Thomas said.
He added: "Whilst we continue to monitor the market closely, we are confident of delivering a good financial and operational performance in financial 2019."
Barratt's net private reservation rate for the period since the start of the year was strong at 0.79 per active outlet per average week, marginally below 0.80 in the same period a year ago.
The company launched 47 new developments since January.
Barratt's shares were trading 0.4% higher at 588.32 pence each early Thursday morning.
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