Barratt’s good first half

Barratt Developments reported a healthy rise in half-year profits after notching up a large number of completions outside London.

The housebuilder’s pre-tax profits rose 8.8% to £321 million in the six months to December, despite revenue falling 3.2% to £1.8 billion.

Chief executive David Thomas said: “We have delivered another very strong first-half performance.”

The group said the housing market’s fundamentals remained robust.