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Barratt Redrow PLC on Wednesday left its annual outlook unchanged after a ‘resilient performance’ during the first few months of the financial year. The Coalville, Leicestershire-based housebuilders guidance for total home completions remains unchanged at between 17,200 and 17,800 homes for financial 2026 with around 40% expected to be delivered in the first half reflecting typical seasonality. Barratt said it continues to focus on reaching 22,000 home completions per year in the ‘medium-term’. The FTSE 100 listing said performance remains dependent on normal seasonal trading patterns for the remainder of the financial year and the impact of the upcoming Budget on demand. ‘Whilst we remain encouraged by the Government’s focus on housebuilding and its reforms to the planning system, accelerating delivery will also require action to support demand,’ the company said. During the 17 weeks to October 27, Chief Executive David Thomas said the firm has seen a ‘resilient performance’ in the face of ‘challenging market conditions and increased uncertainty ahead of the November Budget.’ The net private reservation rate per week in the period faded to 0.57 from 0.59 in financial 2025, it said. The forward order book stands at 10,669 homes, down from 10,706 in the year prior, while total home completions during the 17-week period were 3,665, up 7.9% on-year from 3,396. Barratt Redrow said it remains on track to deliver £100 million of cost synergies from its merger with confirmed synergies now at £80 million, an increase of £11 million from the £69 million confirmed in June. An incremental £45 million of cost synergies will be delivered in financial 2026, it said. ‘Our head office integration is progressing well, with restructuring of teams completed and overhead costs being rationalised. The transition of Redrow onto Barratt systems, which began in April 2025 will be completed during FY26. Our procurement programme is successfully harmonising buying terms and ensuring the purchasing scale of Barratt Redrow is optimised,’ the firm said. In addition, the firm remains confident in delivering 45 incremental sales outlet openings by the end of financial 2028. Barratt Developments completed the £2.5 billion takeover of Redrow in October 2024. Shares in Barratt Redrow rose 1.3% to 377.10 pence each in London on Wednesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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