In a trading update this morning ahead of its interim results announcement next month, Barratt said that operating profit was likely to reach £61m, 40% up on the same period in 2010. Group revenue for the period is likely to be £950m.
Total forward sales as at 31 December 2011 are up 8% over the year at £698.1m, with private forward sales up 29.8% to £415.3m.
Group chief executive Mark Clare said: "This has been yet another six months of good progress for our business despite the wider economic uncertainty. We have delivered a further substantial increase in profits, brought debt in below expected levels and are starting the second half with a much stronger forward order book."
Mr Clare said that Barratt intends to submit a bid for a share of the government’s £420m ‘Get Britain Building’ fund, an initiative targeting sites where there is an implementable planning permission but where activity has either stalled or has not started for economic reasons.
“We welcome the government's new housing strategy and believe it will have a positive impact on the industry,” he said.
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