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Barratt Developments Sees FY Adj. Pre-tax Profit Above Market View

Barratt Developments (BDEV.L) said it expects to deliver an adjusted profit before tax for the year ended 30 June 2021 marginally above the top end of the range of market expectations, as a result of the company's successful rebuild of completion volumes.

The company projects annual profit before tax, after adjusting items of 107 million pounds, to be at the top end of the range of market expectations.

The company said it remain focused on its medium term targets. Our priority remains rebuilding our completion volumes back to fiscal year 2019 levels in fiscal year 2022 and thereafter delivering sustainable growth towards medium target and current capacity of 20,000 homes over the next three to five years.

In its trading update for the year ended 30 June 2021, the company reported that total home completions, including joint ventures, were 17,243, 36.8% up on last year and 3.4% below total home completions in 2019.

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