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Oct. 16, 2019, 3:12 a.m. EDT

Barratt Developments says forward sales dropped for early 2020

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By Adria Calatayud


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Barratt Developments PLC said Wednesday that total forward sales were down 2.4% at the start of fiscal 2020.

The U.K. house builder /zigman2/quotes/209812640/delayed UK:BDEV -1.98%  said its order book stood at 3.07 billion pounds ($3.89 billion) as of Oct. 13, down from GBP3.15 billion at the same time a year earlier.

Net private reservations per active outlet averaged 0.72 a week in the first 15 weeks of fiscal 2020, in line with the year-earlier period, the FTSE 100 company said.

The company said it remains focused on delivering its targets of volume growth in wholly-owned home completions of 3% to 5% a year, land acquisition at a minimum 23% gross margin, and a minimum 25% return on capital employed.

For the year ending June 30, 2020, Barratt expects volume growth toward the lower end of its medium-term target range.

/zigman2/quotes/209812640/delayed
UK : U.K.: London
684.20 p
-13.80 -1.98%
Volume: 1.95M
March 2, 2021 4:35p
P/E Ratio
17.33
Dividend Yield
1.10%
Market Cap
£7.10 billion
Rev. per Employee
£513,779
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