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Barratt Developments reports a 19% half-year profit

Barratt is the UK’s most well known and largest housebuilder and despite the ongoing concerns re Brexit and a down turn in the property market, it has reported a jump in half year profits of 19%.

The news is that the government’s ‘Help to Buy‘ incentive along with affordable finance packages for mortgages is what has caused the sustained demand causing a 7.2% rise in revenues to £2.1 billion in the six months to December 31st 2018, while pre-tax profits jumped 19.1% to £408 million.

Chief executive David Thomas was quoted as saying: “Whilst we continue to monitor market conditions closely, current trading is in line with our expectations and we are confident of delivering a good financial and operational performance in full year 2019.

 

Full story can be read on the Insider website.

EAN Breaking News

EAN Breaking News

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