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Investing.com -- Barratt Redrow PLC (LON:BTRW) on Wednesday reported a resilient trading performance for the 17-week period ending October 26, despite challenging market conditions and uncertainty ahead of the November Budget.
The UK homebuilder achieved a net private reservation rate of 0.57 per week during the period, slightly down from 0.59 in the same period last year. The company generated 228 net private reservations per week, operating from an average of 402 sales outlets.
Total home completions reached 3,665, representing a 7.9% increase compared to 3,396 homes in the comparable period. The forward order book as of October 26 stood at 10,669 homes valued at £3,281.4 million.
"We have delivered a resilient performance over the period despite challenging market conditions and increased uncertainty ahead of the November Budget," said David Thomas, Chief Executive of Barratt Redrow.
The company confirmed it remains on track to deliver £100 million in cost synergies following its acquisition of Redrow, with £80 million already confirmed, up from £69 million reported in June. An additional £45 million in cost synergies is expected to be delivered in FY26.
Barratt Redrow maintained its FY26 guidance for total home completions between 17,200 and 17,800 homes, with approximately 40% of completions anticipated in the first half of the financial year.
The company emphasized that government policy should prioritize planning reform, remove barriers to investment, and support homebuyers, particularly first-time buyers, to help meet the country’s housing needs.
As of June 29, 2025, Barratt Redrow’s total owned and controlled land bank stood at approximately 100,000 plots, equivalent to 6.2 years of supply based on FY25 completions.
The company expects land acquisition activity to broadly match replacement levels over the next two to three years, with an increasing proportion of the current land bank being secured from strategic land positions.
Barratt Redrow will release its interim results for the 26 weeks to December 28, 2025, on February 11, 2026, and its FY26 results for the 52 weeks to June 28, 2026, on September 16, 2026.