Highest ever forward orders for Barratt

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Housebuilder Barratt Developments has achieved its highest ever forward order book as the company said it was on track to increase completions by 9 per cent for the 2015 financial year.

Barratt’s total forward sales (including JVs) were up by 17.9 per cent as at May 10 to £2,592.3m, last year the figure stood at £2,199.3m.

Mark Clare, group chief executive, said: “Our investment in £4.5bn of approved land for new housing since 2009 continues to deliver results. Completions for FY15 are expected to increase by 9 per cent and our forward order book, at more than £2.5bn, is the highest level ever achieved by the group.”

Market conditions have remained strong throughout the period with high levels of demand for new build homes across the country

Mr Clare added: “We remain committed to helping increase the number of new homes across the UK, with our completions increasing by more than 40 per cent over the past four years.

“We are on track to deliver a further significant step up in our financial performance in FY15, making good progress towards achieving our FY17 targets of a gross margin of at least 20 per cent and return on capital employed of at least 25 per cent.”