Barratt upbeat on near-term growth after annual profit surge

Britain's biggest homebuilder Barratt Developments Plc forecast robust forward sales on Thursday, allaying concerns about a cooling housing market following the partial removal of a temporary cut in property purchase tax.

The company's pre-tax profit for the year ended June 30 came in at 812.2 million pounds ($1.12 billion), compared with 491.8 million pounds in the pandemic-hit 2020 fiscal, but lower than the 909.8 million pounds reported in the prior year.

($1 = 0.7256 pounds)

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