Barratt says it’s Too Soon to Judge Brexit Impact

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Barratt says it’s Too Soon to Judge Brexit Impact

Barratt Developments PLC has today issued a trading update for the year ended 30 June 2016 ahead of its annual results announcement in September.

Reporting a rise in total housing completions of 5.3% to 17,319 (2015: 16,447), during the financial year and an increase in profits of. 20% to c. £680m, the company is hopeful that despite the present economic uncertainty, the underlying undersupply of homes will mean continuing growth and profits for the coming year.

David Thomas, Chief Executive said: Following the EU referendum, it is too early to say what the impact of the uncertainty facing the UK economy will be. The sector continues to receive focused government support, mortgage availability is good and there remains an undersupply of new homes.

“With a strong balance sheet and forward order book, we remain confident in the positive fundamentals of both the housing sector and our business.”

 

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