Housebuilder Barratt Developments has posted a 12.9% increase in profit before tax to £765.1m in the year to 30 June 2017.
This compares with £682.3m in the same period last year. It also increased its revenue by 9.8% to £4.6bn, from £4.2bn in the same period last year.
Total completions in the period, including joint ventures, rose by 0.4% to 17,395 plots, up from 17,319 a year ago.
Its balance sheet also strengthened during this period, with net cash rising 22.2% to £723.7m, up from £592m.
Chief executive David Thomas said: “We have started the new financial year in a good position, with £723.7m year-end net cash and a healthy forward order position. Our outlook for FY18 is unchanged and we continue to expect to deliver modest growth in wholly owned completions, with affordable completions representing a similar proportion of completions as FY17.”
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