By Adria Calatayud
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.