A trading update today showed house completions up 9.2% year-on-year to 9,077 for the six months to December 31 2020 from 8,314 last time.

Barratt has set a target of building 20,000 homes annually alongside margins of 25%.

David Thomas, Chief Executive said: “Throughout the pandemic, our teams have worked hard to make our operations Covid-secure and our first priority continues to be keeping our employees, subcontractors, suppliers and customers safe.

“I’d like to thank our people for their efforts in helping us to rebuild completion volumes, drive further operational improvements and deliver on our commitment to build the highest quality homes across the country.

“Despite the ongoing challenges presented by the pandemic, we are confident that our operating performance and strong financial position provide us with the resilience and flexibility to respond to the operating environment in FY21 and beyond.”