In a trading update this morning ahead of its interim results announcement next month, Barratt said that operating profit was likely to reach 拢61m, 40% up on the same period in 2010. Group revenue for the period is likely to be 拢950m.
Total forward sales as at 31 December 2011 are up 8% over the year at 拢698.1m, with private forward sales up 29.8% to 拢415.3m.
Group chief executive Mark Clare said: "This has been yet another six months of good progress for our business despite the wider economic uncertainty. We have delivered a further substantial increase in profits, brought debt in below expected levels and are starting the second half with a much stronger forward order book."
Mr Clare said that Barratt intends to submit a bid for a share of the government鈥檚 拢420m 鈥楪et Britain Building鈥� fund, an initiative targeting sites where there is an implementable planning permission but where activity has either stalled or has not started for economic reasons.
鈥淲e welcome the government's new housing strategy and believe it will have a positive impact on the industry,鈥� he said.
Got a story? Email news@theconstructionindex.co.uk
