Barratt Redrow has delivered a “resilient” half-year performance, with strong revenue growth but decreased profits amid a “subdued market” and ongoing remediation efforts, as the integration of Redrow nears completion.
For the six months ended 28 December 2025, Barratt Redrow reported revenue of £2.6 billion, up from £2.2 billion in the same period last year.
Adjusted operating profit stood at £210.2 million, slightly below the previous year’s £211.8 million, reflecting a margin of eight per cent.
The housebuilder posted an adjusted pre-tax profit of £199.9 million, a 13.6 per cent decrease from £231.4 million in the prior period, with home completions rising 4.7 per cent to 7,444, compared to 7,107 in the previous year.
Barratt Redrow’s building safety provision remains a priority, with £828.9 million allocated for ongoing remediation across 280 active buildings, all within cost estimates.
Additionally, the provision for reinforced concrete frames totals £186.7 million, with 51 buildings undergoing remediation.
While spending is within forecast, significant costs are expected in FY2027 and FY2028 as detailed assessments progress.
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Despite a challenging market environment, the company is on track for sustainable medium-term growth, supported by a solid land bank, strong forward sales, and ongoing synergy delivery from the Redrow integration.
The group expects to achieve £100 million in cost synergies, with key efficiencies gained from office and management structure consolidation, as well as purchasing volume advantages.
With a project pipeline valued at £3.4 billion, Barratt Redrow anticipates completing between 17,200 and 17,800 homes in FY2026.
The company also boasts a strong balance sheet, with net cash of £173.9 million after £171.8 million in dividends and £50.4 million in share buybacks.
David Thomas, chief executive at Barratt Redrow, said: “During the first half we delivered a resilient performance in a subdued market while making strong progress integrating Redrow.
“With a strong land bank, solid forward sales and synergy delivery in line with our targets, we are well positioned to deliver sustainable medium-term growth.”
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