Barratt Developments has reported record forward sales for the period from 1 January to 7 May 2017 of £3.2bn – a 13% increase on the total for the same period last year.
The firm also said that it was on track to reach 17,350 completions for the year and that it expected annual pretax profits to come in at the top end of estimates, which would be between £675m and £733m.
Chief executive David Thomas said: “Increased competition within the mortgage market has resulted in wide availability of attractive mortgage finance which, alongside Help to Buy, continues to support the strong consumer demand. This has helped drive volumes and we are on track to deliver circa 16,650 wholly owned completions for the full year.”
The firm secured 46 developments during the period and plans to secure around 17,000 new plots in the current financial year.
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