Housebuilder Barratt is gearing up to build 16,000 homes per year as it hails an improved market

Hortham Village Barratt

Reporting its results for the year to 30 June 2013, the UK鈥檚 largest housebuilder posted revenue of 拢2.6bn, up 13% on 拢2.3bn the previous year.

The firm posted pre-tax profit of 拢105m, up slightly on 拢100m the previous year.

The firm鈥檚 operating profit rose 30% to 拢250m (2012: 拢191.1m), giving an operating margin, before exceptional items, of 9.7%.

The housebuilder鈥檚 completions rose 6% to 13,663 (2012: 12,857)

The housebuilder said it was now gearing up to build 16,000 homes per year by 2016 - a 17% rise on current levels.

Chief executive Mark Clare said: 鈥淐urrent market conditions are very positive. We have seen a significant step-up in consumer demand and mortgage supply, enhanced by the introduction of the government Help to Buy scheme.

鈥淭he strength of current trading and our forward order book, coupled with the expected delivery of around two thirds of completions from higher margin land, gives us confidence of another substantial improvement in performance.鈥�

 

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