Click to read the article in full.
Profits at Leicestershire housebuilding giant Barratt Developments have collapsed, just weeks before it is due to complete its £2.5bn mega-deal to buy counterpart Redrow.
For the year to the end of June this year, Barratt saw its profits fall to £170.5m – down from £705.1m in 2023.
Total home completions also fell, down 18.6% to 14,004, and revenue was down 21.7% to £4.16bn.
Despite this, Barratt says home completions are at the “upper end” of its expectations for the year against a challenging economic backdrop.
Related Articles
Barratt’s deal to buy Redrow completed on August 21. It is currently working with the Competition and Markets Authority (CMA) to address the findings of its Phase 1 competition review which is expected to complete
link source - The Business Desk