Barratt Developments has reported an increase in pretax profit for the first half of the year, as demand for homes rose.
The housebuilder, which said it recorded the highest level of H2 home completions in 12 years, set out plans to pay a special dividend of £175m next year.
Pretax profit rose by 3.7% to £423m, during the six months ending 31 December.
Total completions stood at 8,314, up by 9.7% on the first half of the previous year.
The average selling price fell by 0.9% to £279,800, with prices for private sales down by 1.7%.
However, total forward sales as at 2 February tallied 13,043 homes, compared with 13,194 last year. Affordable home sales were up 28.9%, to 1,699.
Basic earnings per share grew 3.4% year on year, to 33.8p.
David Thomas, chief executive of Barratt Developments, said: “We have made a good start to our second half and with substantial net cash, a well-capitalised balance sheet and strong forward sales, the outlook for the full year is in line with our expectations.”
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