LONDON - Barratt Redrow (LON:RDW) PLC has released unaudited aggregated financial and non-financial information for investors, providing a snapshot of its performance ahead of the company's interim results announcement and Capital Markets Update scheduled for February 12, 2025. The data covers the half year ended December 31, 2023, and the full year ended June 30, 2024, reflecting the company's operations following the acquisition of Redrow PLC by Barratt Developments (LON:BTRW) PLC.
The company disclosed key metrics including average sales outlets, private reservation rates, home completions, and average selling prices. For the half-year period, the combined group reported private home completions totaling 6,090 and an average selling price for private homes of £373,200. The full year saw a total of 13,500 private home completions and an average selling price of £371,100.
Financial highlights from the income statements revealed housebuilding revenues of £2.59 billion for the half year and £5.75 billion for the full year. Adjusted gross profit margins stood at 16.8% and 17.0% for the respective periods. Profit from operations was reported at £183.8 million for the half year and £361.7 million for the full year, with profit before tax reaching £179.2 million and £355.5 million.
The balance sheet as of December 31, 2023, showed net assets totaling £7.46 billion and a net cash position of £874.4 million. The company also noted that the information provided has not been audited and does not account for any adjustments that may arise from accounting policy alignments or fair value adjustments related to the acquisition.
Barratt Redrow stressed that the data presented is subject to final review by the group's auditors and may include adjustments in the upcoming half-year results announcement. The company emphasized that the information should be considered an illustrative framework for investors rather than definitive financial outcomes.
This statement is based on a press release issued by Barratt Redrow PLC and serves to inform stakeholders of the company's performance indicators as they await the formal financial results in February 2025.
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