It has been a strong year for the group with group revenues up by 14.1% for the full year to £2,323.4m, with completions of 12,637 units up from 11,078 in 2011.
Group operating profit before exceptional items for the full year up by 41.6% to £191.1m up from £135 million last year.
Mark Clare, Group Chief Executive, said: “The year has seen a rapidly improving performance across the Group which shows that our strategy is delivering, with profits up 159% and an almost halving of our net debt.
“In the current financial year we expect to make further good progress, with more than half of completions forecast to be delivered from our more recently acquired higher margin land.”
As well as issuing its annual results the company has given notice of its Annual General Meeting.
Documents have been submitted to the National Storage Mechanism, together with a copy of the rules of the Barratt Developments Long-Term Performance Plan, and will shortly be available for inspection at: www.Hemscott.com/nsm.do.
The Shareholder Documents will soon be available via the Company’s website at: www.barrattdevelopments.co.uk/barratt/en/investor/irintro and from the Company’s registered office at Barratt House, Cartwright Way, Forest Business Park, Bardon Hill, Coalville, Leicestershire LE67 1UF.
Hard copy versions of the above Shareholder Documents have been posted to shareholders who have elected to receive them in paper form.
The Company’s Annual General Meeting will be held at 2.30 p.m. on Wednesday 14 November 2012 at the Royal College of Physicians, 11 St Andrews Place, Regent’s Park, London NW1 4LE.
