Barratt Redrow (LSE:BTRW) signalled resilience in a third‑quarter trading update, reiterating FY26 guidance for total home completions of 17,200–17,800 (including c.600 JV) and adjusted profit before tax "in line with consensus expectations". At 29 March forward sales were up 11.2% to £3,539.2m and the group is 94% forward sold for FY26 (2025: 96%).
Reservation rates held firm: net private reservations excluding PRS and other MUS rose to 0.64 per outlet per week (2025: 0.62), and overall private reservation rate was 0.67 (2025: 0.63). Total homes completed in the year to date were 10,718 (2025: 10,824) and total forward sales volume was 11,395 homes (30 March 2025: 10,245).
Management maintained build cost inflation guidance at c.2% for FY26, flagged possible higher material costs in FY27, and confirmed Redrow integration synergies of £100m — £20m delivered in FY25, £50m expected in FY26 and the remaining £30m by December 2027.
The group tightened land buying: expected approvals of 7,000–9,000 plots (previously 10,000–12,000) and reduced land spend of £700–£800m (was £800–£900m). Year‑end net cash is now forecast at £550–£650m, roughly £150m ahead of prior guidance.
"Barratt Redrow had a solid third quarter, with a resilient reservation rate underpinned by good customer demand." David Thomas, Chief Executive of Barratt Redrow plc, commented.
The next scheduled financial update is the FY26 full year trading update on 15 July.
