Barratt Redrow has scaled back its completions forecast for the next financial year, despite “strong operational and financial performance” in its latest annual results.
In its trading update for the year to 28 June 2026, the housebuilder announced that it had adjusted its FY27 guidance for total home completions to 17,500-17,900, down from its previous guidance of 17,700-18,200. The Group says that the decision reflects continued planning delays and a consequent reduction to expected sales outlet openings, with 405 average sales outlets now anticipated, down from 415 previously anticipated.
In FY26, the housebuilder delivered 17,667 total home completions, up 5% from the 16,826 aggregated completions the previous year and towards the top end of its guidance range.
The Group saw a slight increase in its net private reservation rate year-on-year, which stood at 0.56 per outlet per week compared to 0.55 in FY25.
Barratt Redrow also saw an increase in revenue, which grew 6.6% from £5.56billion in FY25 to £6.06billion in this year’s results.
The Group saw its statutory pre-tax profit rise by 48% from £245million to £364million this year, as a result of a reduced impact from the Redrow transaction and integration costs, as well as purchase price allocation adjustments.
Despite this, the firm’s adjusted pre-tax profit fell from £617million in FY25 to £573million this year.
The trading update said that the integration of Redrow had been completed in the year, with the Group delivering £73million cost synergies and the Group’s £100million cost synergy target confirmed.
From 29 June to 6 September, Barratt Redrow had seen its net private weekly reservation rate rise to 0.62 from 0.55 in FY26, which including a 0.09 contribution from the private rental sector and other multi-unit sales.
Forward sales at 6 September also improved year-on-year, standing at 11,200 homes compared to 10,593 the previous year.
David Thomas, Chief Executive of Barratt Redrow plc, said: “In a tough market, we have driven a strong operational and financial performance, delivering 17,667 homes, ahead of last year, and adjusted profit before tax in line with market expectations. Alongside the delivery of planned synergies, the successful integration of Redrow has created a more efficient and agile business. Looking ahead, whilst the wider economic backdrop remains uncertain, we are focused on maximising the strength of our three differentiated brands, maintaining our disciplined approach to costs and capital allocation, and continuing to deliver for customers, communities and, as evidenced by the capital return announced in July, we have a clear commitment to delivering for our shareholders.”
