Barratt may move production to UK ahead of Brexit

As London and Brussels work on a deal this month which designed to protect free trade, including the movement of goods between Britain and the European Union until at least the end of 2020, many firms are developing contingency plans.

Barratt said around 90 per cent of its materials are sourced domestically but it was in talks on moving production of the large format blocks, which are used in the construction process and at the moment come from overseas.

“We’re currently having a discussion with the supplier about whether production can come from the UK rather than directly from Germany,” chief executive David Thomas told Reuters.

Thomas also said Barratt was investing in developing skills in Britain, including a programme to employ former army personnel.

In an update, the firm said it would meet full-year expectations after reporting a 6.8 per cent rise in half-year pre-tax profit to £342.7million.

It comes after the builder said the number of homes it built rose 2 per cent to 7,324 in the last six months of 2017.

It has approved the purchase of £641.2m of land during the same period.