 Barratt Developments is valued at about �2.6bn |
Housebuilder Barratt Developments has reported a 4% rise in half-year profits on the back of improving confidence by homebuyers in the property market. The UK's second-largest housebuilder by market value said pre-tax profits for the six months to the end of December rose to �163.9m ($286m).
Though the market remained competitive, Barratt reported "positive signs" in terms of buyer confidence.
Its forward sales book reached �910m, up from �708m at the end of the year.
"On current form, we are on track for another successful year and are in good shape going forward," said chief executive David Pretty.
Barratt said its foothold in a wide range of markets, such as social housing, had protected it from the downturn suffered by the property sector last year.
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