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Barratt Developments Sees FY22 Adj. Profit Before Tax Of £1.050 Bln - £1.060 Bln

Barratt Developments plc (BDEV.L), on Thursday, issued a trading update for the year ended 30 June 2022, and said it expects adjusted profit before tax in the range of £1,050 million - £1,060 million, slightly ahead of current market consensus expectations at £1,048 million.

The company noted that strong nationwide demand sustained throughout the year, resulting in net private reservations per active outlet per week of 0.81 versus the prior year's 0.78.

Further, Barratt believes that it is well positioned for FY23 with total forward sales, including JVs, at 30 June 2022 of 13,579 homes at a value of £3,622.3 million.

As at 30 June 2022, the Group had net cash of about £1,125 million and an undrawn committed revolving credit facility of £700 million.

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