British housebuilder Barratt Developments said today its first-half total home completions rose 26 per cent.
Barratt, which acquired rival Wilson Bowden early last year, said total home completions rose to 9,056 in the six months to end-December from a year earlier, topping its November estimate of 8,750.
But the number fell from 10,623 on a pro forma basis, assuming Wilson Bowden had been acquired in 2006. Its forward order book fell to £1.26 billion from £1.34 billion.
Barratt, the country's second-largest home builder by volume, said margins were in line with its expectations, helped by cost reductions and a 0.5 per cent rise in selling prices.
Shares in Barratt, which have underperformed its peers by around 50 per cent over the past six months, closed at 362-3/4 pence on Wednesday, valuing the group at around £1.2 billion.
