14th Jan 2015 07:09
LONDON (Alliance News) - Barratt Developments PLC on Wednesday said it is on track for a significant improvement in its full-year results after reporting a rise in total completions, average selling prices and forward sales in the first half.
The FTSE 100-listed housebuilder said total completions in the six months to the end of December rose 12.5% to 6,971 from 6,195 a year earlier.
The total average selling prices for the company's houses rose 8.4% to GBP229,000 from GBP211,200 a year ago, boosted by a 12.3% rise in private selling prices to GBP253,000 from GBP225,300.
Total forward sales for the company, including joint ventures, rose 17.1% to stand at GBP1.68 billion at the end of December, up from GBP1.44 billion a year earlier.
"We have delivered a strong performance in our first half including a 12.5% step up in completion levels," said Barratt Chief Executive Mark Clare.
"We are on track for another significant improvement in our financial performance for the full year as we continue to operate in a disciplined way, building the highest quality homes in places people want to live," Clare added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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