Barratt Developments PLC (the ‘Group’) is today issuing a trading update for the year ended 30 June 2023 (the ‘year’ and ‘FY23’) ahead of publication of its annual results on 6 September 2023.

David Thomas, Chief Executive, commented:

"During a year of economic and political uncertainty, we have delivered a strong operational and financial performance, while maintaining our industry-leading quality, customer service and sustainability credentials.

Whilst the trading backdrop has become more challenging in recent months, with many of our customers facing significant cost of living pressures, we have responded decisively - increasing our reservations into the private rental sector, using incentives for customers in a disciplined way, and flexing our build activity, land-buying and operating costs to reflect market conditions.

As a result, we enter the new financial year in a robust financial position with a solid forward order book and we are ready to respond to any further changes in the housing market."