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Barratt Developments sees outturn above prior expectations after raising outlook on completions
StockMarketWire.com
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Homebuilder Barratt Developments said it expects outturn to be 'modestly above' its expectations after raising its forecast on completions for the full-year thanks to strong demand for homes.
Wholly owned completions for fiscal 2021 was expected to be between 16,000 and 16,250 homes and the company aimed to deliver around 650 joint venture home completions.
'As a result, we now expect an outturn for the full year modestly above the board's previous expectations,' the company said.
For the period from 1 January 2021 to 2 May 2021, net private reservation rate increased to 0.83 from 0.52 per active outlet per average week year-on-year.
In the period, 4,481 total home completions were delivered, up from 3,504.
'Construction activity progressing well with an average of 321 equivalent homes (including JVs) built per average week in the period,' the company said.
The company said its interim dividend of 7.5 pence per share would be paid on 10 May 2021.
Story provided by StockMarketWire.com
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