Barratt Redrow 13-week Home Completions Rise, Forward Sales Down; Reaffirms FY25 Outlook

(RTTNews) - Barratt Redrow Plc (BTDPY, BTDPF, BTRW.L) on Wednesday reported an increase in home completions for the 13-week period ended March 30, while forward sales declined. The company reaffirmed its outlook for home completions for fiscal 2025.

For the year 2025, the company continues to expect to complete 16,800 to 17,200 homes, including around 600 JV units, helped by a solid order book and strong spring trading. The company maintained that it is well positioned for future growth.

In its trading update for the 13-week period till March 30, the British residential property developer said it delivered 3,717 home completions, compared to last year's aggregated 3,662 home completions.

According to the company, the private reservation rate was 0.63, compared to last year's aggregated 0.65, with a lower 0.01 contribution from the private rental sector and other multi-unit sales due to timing factors.

During the 13-week period, forward sales, including JVs, declined 10 percent to 10,245 homes from aggregated 11,402 homes a year ago. The total value came in at 3.14 billion pounds, compared to last year's aggregated 3.20 billion pounds.

Barratt Redrow said that the private home order book comprised 5,503 homes, down 3.5 percent in volune from last year's aggregated 5,701 homes. The company said that there was a 3.3 percent rise in value to 2.24 billion pounds from last year's aggregated 2.17 billion pounds, indicating modest price inflation and a shift in sales mix.

The total completions for the financial year to date were 10,563 homes, lower than last year's total home completions of aggregated 11,439.

On the LSE, Barratt Redrow stock is down 0.09 percent at 431.00 pence.