Barratt Redrow plc reported full year results for the 52 weeks to 29th June 2025, showing 16,565 total home completions, up 18.3% from last year’s 14,004.
Revenue rose to £5.58bn, a 33.8% increase from £4.17bn in 2024.
The adjusted profit before tax and before Redrow purchase price allocation came in at £591.6m, ahead of previous market expectations.
Reported profit before tax was £273.7m, compared to £170.5m last year.
Net cash at year end stood at £772.6m, down from £868.5m.
The group confirmed annual cost synergies of £69m, resulting in a £20m cost reduction in this year’s profit, with a further £45m reduction expected in 2026.
The proposed dividend for the year is up 8.6% to 17.6p per share.
A £50m share buyback was completed in the second half of the year, and a £100m buyback is ongoing for 2026.
Additionally, the company reported 115 NHBC Pride in the Job Awards, continued its ‘5 Star’ rating in the Home Builders Federation (HBF) customer survey for the 16th year, and was recognised as a leading sustainable housebuilder by NextGeneration.
The MADE Partnership with Homes England and Lloyds Banking Group was launched, as well as the West London Partnership with Places for London, which plans to develop over 4,000 homes in the next decade.
From 30th June to 24th August 2025, the net private weekly reservation rate was 0.55, in line with last year.
Forward sales as of 24th August 2025 were 10,350 homes, valued at £3.14bn.
The company expects total home completions of between 17,200 and 17,800 in 2026, including around 600 from joint ventures, assuming stable market conditions.
David Thomas, CEO of Barratt Redrow plc, said: “We have delivered a solid performance in a tough market, with adjusted profits ahead of expectations despite home completions coming in slightly below our guided range.
“The acquisition of Redrow is transformative for the Group, and I am pleased with the progress we have made on delivering synergies ahead of our targets and executing a successful integration, which is now largely complete.
“I’d like to thank our employees, subcontractors and supply chain partners for the huge contributions they made to our performance this year.”
Thomas added: “While the housing market remains challenging and we anticipate limited growth in FY26, the long-term fundamentals of the sector remain compelling.
“We have a unique offering, with three distinct leading brands with a strong land position and balance sheet and a clear strategy to deliver long-term, sustainable growth and 22,000 homes a year in the medium-term.
“In the meantime, it is vital that government policy is focused on reforming the planning system, removing barriers to investment and supporting purchasers, particularly first-time buyers, if the sector is to build the homes the country needs.”
