Barratt beats construction targets as completions rise

Grant Prior 2 months ago
Share

The UK’s largest house builder Barratt beat its construction targets in the second half of 2020 as the industry bounced back from the first lockdown.

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.”

Latest news

Construction plant shortages start to bite

Smaller excavator delivery dates being pushed to 2022
1 day ago

Bechtel’s £100m HS2 legal claim over contract award fails

American giant has procurement complaint dismissed
2 days ago

Six win £650m NHS Scotland framework

BAM and McLaughlin & Harvey secure places for first time on Scottish hospital framework
1 day ago

MBO at £80m turnover McTaggart Construction

Eight-strong management team buy Scottish housing contractor
1 day ago

Engie bags £200m low carbon campus in Birmingham

Construction to start this summer on student complex
1 day ago

Elland Steel ownership shifts to employee trust

Family of Halifax steelwork contractor sell to workforce trust
2 days ago

Amey raids Ringway Jacobs for highways chief

Andy Denman joins Amey in May to lead local authority highways growth plan
2 days ago

Commercial jobs spur February new orders rebound

Optimism levels among buyers hit five year high despite supply challenges
2 days ago

ISG tops February contracts league with mega-shed job

Big logistics projects boost ISG, TSL Projects and Winvic
2 days ago

Galliford Try returns to profit and resumes dividends

Business achieves 1.6% operating margin in improved first-half year
2 days ago

Vistry sets aside £20.9m for cladding retrofits

House builder reports strong second half in 2020 and start of this year
2 days ago

Robertson starts work on £22.4m robot centre

National Robotarium in Edinburgh to open in spring 2022
2 days ago

Willmott Dixon wins £16m Notts leisure centre

Bingham town leisure centre project includes a swimming pool, adjacent community pool and workspace
2 days ago

First eight freeports to lead regional regeneration drive

Chancellor unveils free trade zones in East Midlands, Felixstowe, Humber, Liverpool, Plymouth, Solent, Thames and Teesside
3 days ago

Bristol Beacon refurb cost doubles to £107m

Council agrees extra investment after Willmott Dixon discovers major structural issues
3 days ago

Corporation tax to increase to 25% in 2023

Chancellor also unveils "super deduction" scheme to boost construction investment
3 days ago

Groundworks firm moves to employee ownership

Brother and sister owners sell Fitfield to 60 strong staff trust
3 days ago

Persimmon doubles size of construction quality hit squad

House builder to boost team of build quality inspectors to 60
3 days ago

HS2 shortlists quartet for £540m signalling contract

Alstom, Hitachi, Siemens and Thales in race for phase one contract
3 days ago

Osborne forms JV for zero carbon housing retrofits

Partner Passivhaus specialist Bow Tie Construction to offer innovative carbon reduction techniques
3 days ago

Leeds to spend £100m on council home energy retrofits

Five-year programme to install heat pumps, district heating, wall insulation and solar panels
3 days ago

Utility contractor Falco sold to staff

London contractor becomes the latest to be sold to Employee Ownership Trust
4 days ago

Keltbray lands first major roads package

Specialist bags £14.1m bridges deal from Costain/Jacobs as it targets highways sector
4 days ago

Lee Marley Brickwork launches Scottish scaffolding division

Industry veteran Billy Dolan to lead latest brickwork and scaffolding offering

Interserve resurrects Tilbury Douglas name in rebrand

New Tilbury Douglas branded business targets £500m revenue this year
4 days ago

Taylor Wimpey pledges £125m for cladding and fire safety retrofits

Pre-tax profit slumps two-thirds to £264m as margin halved to just over 10%
4 days ago

Fusion21 names line-up for £1.1bn FM framework

Successful firms include BAM, Bouygues, Galliford Try and Eric Wright
4 days ago

Major pharma HQ in London’s King’s Cross approved

Work could start on 220,000 sq ft research facility before the end of 2021
5 days ago

Union fears over plan to house site workers on cruise ships

2,000 builders could live on ships during construction of London Resort in Kent
5 days ago

Another ISG director joins Structure Tone

Justin Fahy joins former ISG colleagues as Commercial Director at fit-out specialist
4 days ago

Contractor services