11th Nov 2015 07:49
LONDON (Alliance News) - Housebuilder Barratt Developments PLC on Wednesday said it remains on track following a strong start to its current financial year, as conditions in the UK's housing market continue to be robust and demand holds up across the regions.
The FTSE 100-listed group said its net private reservations per week for the 19 weeks to November 8 rose 13% year-on-year to 261, with a sales rate of 0.7 net private reservations per active site per week, up from 0.63 a year earlier.
Its total forward sales position at the end of the period was GBP2.50 billion, up 21% year-on-year.
"Against the backdrop of a significant structural shortage of new homes in Britain, we have made a strong start to the year. Operationally the business is performing well with strong sales, good control of input costs and continued land investment," said Chief Executive David Thomas.
In order to try to address concerns about a skills shortage in the building sector, the group is also hiring 250 graduates, trainees and apprentices for the 2016 financial year.
By Sam Unsted; [email protected]; @SamUAtAlliance
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