Barratt says housing markets improve
Housebuilder Barratt Developments said on Wednesday its first-half underlying profit rose 14.3 percent and the housing market conditions had since improved with increased visitor numbers.
Housing affordability should improveBritain's second-largest homebuilder by volume, and number three by market value, said profit before tax and restructuring costs rose to 201.8 million pounds in the six months to end-December.
"The new calendar year has started well. We have increased outlets, and have a strong forward order book. Visitor and reservation levels continue to improve and we remain optimistic that this will continue through the balance of the spring selling season," it said in a statement.
Forward sales as of February 17 fell by 7 percent to 1.62 billion pounds.
Barratt, which acquired rival Wilson Bowden in April 2007, said home completion fell by 14.8 percent to 9,056 homes in the first half, assuming the acquisition was made on the first day of the comparative financial period.
Its housebuild operating margin fell by 0.5 percent to 16.8 percent on a like-for-like basis.
(Reporting by Miyoung Kim)
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