Shares in Barratt Redrow (LON: BTRW) rose around 6.6% to 294.7p on Wednesday morning after the housebuilder posted 52-week results for the period ended 28 June 2026 that reassured investors despite a challenging UK market.
The group delivered 17,667 home completions, up 5.0% on the prior year and towards the top of its guidance range, with adjusted operating profit of £598.1m, slightly ahead of the £594.4m recorded a year earlier. Revenue of £6.06 billion topped the analyst consensus estimate of £6.02 billion.
Adjusted profit before tax, excluding purchase price allocation adjustments, fell 7.1% to £572.8m, reflecting a lower gross margin of 15.3%, down 210 basis points, but this was broadly in line with what the market had been expecting.
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Investors appeared reassured by the strong balance sheet, with net cash of £772.8m, and continued progress on the £400m capital return for FY27, including a £386m share buyback, of which 17.5 million shares had already been repurchased by early September. Forward sales also improved, with 11,200 homes secured at 6 September 2026, up from 10,593 a year earlier.
The rally came even as Barratt Redrow trimmed its FY27 completions guidance to 17,500-17,900 homes, citing continued planning delays and fewer expected sales outlet openings, suggesting the market focused more on the resilience of trading and shareholder returns than on the softer near-term outlook.
Outgoing chief executive David Thomas, who is stepping down after a decade in charge, said the business had delivered a “strong operational and financial performance” in a tough market.
