Barratt Redrow plc (LSE:BTRW) reported a 6.6% increase in revenue to £6.06 billion for the 52 weeks ended in 2026, supported by higher home completions, while adjusted profit before tax declined 7.1% amid pressure on margins.
Total home completions increased 5.0% to 17,667, reflecting the group’s combined operations following the acquisition of Redrow.
Statutory profit before tax rose to £363.5 million, partly reflecting a reduction in integration costs associated with the acquisition. However, adjusted profit before tax fell 7.1%, while return on capital employed also declined.
The company confirmed that the integration of Redrow had been completed, with £73 million of cost synergies delivered during the financial year.
Barratt Redrow maintained its target of achieving £100 million in total synergies from the combination.
The group ended the financial year with net cash of £772.8 million after making dividend payments and undertaking share buybacks.
Forward sales increased in both volume and value, while reservation rates recorded a modest improvement.
Despite these developments, Barratt Redrow reduced its home completion guidance for the 2027 financial year to between 17,500 and 17,900 properties, citing delays in the planning process.
The revised guidance implies a completion range slightly below to marginally above the 17,667 homes delivered in FY26.
The company continues to operate through its three residential brands, Barratt, David Wilson Homes and Redrow, serving private homebuyers and institutional customers.
Its activities include private housing development, multi-unit residential projects and properties for the private rental sector.
Barratt Redrow is pursuing purchasing efficiencies and operational improvements across its combined business following the Redrow integration.
The group also maintains a capital return programme involving dividends and share buybacks, alongside investment in its housing development operations.
The company’s FY27 outlook reflects its current assessment of market conditions and planning-related constraints, with completion volumes expected to remain broadly in line with the previous financial year.
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