Barratt Developments expects to build strong profit growth

 
Billy Ehrenberg
Follow Billy
Barratt has continued the trend of construction companies predicting increases in pre-tax profits (Source: Getty)

Housebuilder Barratt Developments has continued the trend of construction companies predicting increases in pre-tax profits, completions and average sales price.

Like Bovis Homes, Taylor Wimpey and Galliford Try before it, Barratt announced a sizeable increase in the average cost of one of its houses; up 13 per cent to £220,000 in the financial year. Completions were up 8.6 per cent at 14,838.

In the trading statement, Barratt also announced that it expected its pre-tax profits to exceed the upper bounds of analysts' expectations, with £390m the figure suggested.

The group cited "strong demand for new homes across the country" as a reason for optimism heading into the 2015 financial year.

Related articles