Britain’s largest housebuilder has predicted higher than expected annual profits after it improved margins and experienced a rise in sales this spring.
Barratt Developments said trading this year had improved since its last update in February, with the average rate of sales at its 388 outlets rising from 0.74 to 0.79 home sales a week.
The group said it was making progress on margin improvements, having reduced its product range from 300 homes to about 80 over the past three years. This has meant its outlook for the full year is “modestly” above the board’s previous expectations.
