LONDON (dpa-AFX) - Barratt Redrow plc (BTDPF, BTDPY, BTRW.L), a British residential property development company, on Wednesday reported improved reservation rates in the third quarter, supporting its decision to reaffirm full year completion and profit guidance.
Net private reservation rates increased 3.2 percent to 0.64 per outlet per week from 0.62 last year, excluding private rental and multi unit sales.
Including those, the rate reached 0.67, up 6.3 percent compared to 0.63 last year
The group ran an average of 408 sales outlets and opened 32 new sites, including its first two synergy outlets combining Barratt and David Wilson Homes at Curborough Fields.
Quarterly home completions were 3,274 bringing the year to date total to 10,718.
Total forward sales were 3.54 billion pounds across 11,395 homes, up 11.2 percent on volume and 12.8 percent on value versus the prior year.
Barratt said that the private order book rose 2.5 percent to 5,643 homes.
Also, the group is 94 percent forward sold for the fiscal 2026.
Land approvals were limited to 2,465 plots across 14 sites as the group stays selective amid rate and cost uncertainty.
The Company added that the 100 million pounds share buyback is underway, with 33.3 million pounds deployed in the period.
Looking ahead to the full year 2026, the company's guidance stays at 17,200 to 17,800 home completions, including around 600 from joint ventures.
Adjusted profit before tax is expected to meet market consensus
Year end net cash is now forecast at 550 million pounds to 650 million pounds, about 150 million pounds higher than previous guidance due to remediation payment timing and reduced land spend.
Full year land approval guidance is now 7,000 to 9,000 plots, down from 10,000 to 12,000 previously. Expected land spend for the year is 700 million pounds to 800 million pounds.
On the LSE, BTRW.L ended Tuesday's trading at 261.70 pence, up 1.42 percent
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
