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Trading update from Barratt Developments PLC

Barratt Developments PLC (the ‘Group’) is today issuing a trading update for the period from 1 July 2022 to 9 October 2022 (the ‘period’). All comparatives are to the equivalent trading period (‘FY22’) unless otherwise stated. Barratt Developments PLC’s year end is 30 June 2023.

Ian Ruthven, Managing Director of Barratt Developments Yorkshire West  said:

“We are pleased to have seen consistently high levels of demand from prospective homebuyers across West Yorkshire. We are in a strong position to continue delivering high quality homes across the region.”

“We understand that the current cost of living crisis and uncertainties surrounding the mortgage market will continue to impact the buying decisions of those looking to purchase a new home, but we remain dedicated to supporting prospective buyers with incentives and buying schemes and the implementation of energy-efficient, sustainable homes.”

David Thomas, Chief Executive commented:

“We continue to see strong levels of interest across the country, however private reservations remain below the level seen in FY22 as customers react to the wider economic uncertainty.

Whilst the outlook for the year is less certain, we remain on track to deliver adjusted profit before tax1 for the year in line with current consensus, and we are focused on maintaining our commitment to lead the industry in the quality, energy-efficiency and sustainability of our homes and in our customer service, all of which are fundamental to our ongoing success amid a more challenging market backdrop.”