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Merged UK homebuilder Barratt Redrow reports profit surge, plans massive home construction.
Barratt Redrow, formed by a £2.5bn merger last year, reported a significant rise in profits and home completions, with shares up 6%.
The company expects to build up to 22,000 homes annually and aims to deliver between 16,800 and 17,200 homes this year.
Despite economic uncertainties and cost inflation, the company's strong balance sheet and order book are seen as protective against market downturns.
The profit increase is partly due to higher home sales and better interest rates, though forward sales still face challenges.
Barratt Redrow has also initiated a £100 million annual share buyback program.
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Combinado constructor de viviendas en el Reino Unido Barratt Redrow reporta aumento de ganancias, planes de construcción masiva de viviendas.