UK's Barratt Redrow's H1 home completions rise, adjusted operating profit dips

Barratt Redrow

11/02/2026 07:10

Overview

UK housebuilder's 26-week home completions rose 4.7% yr/yr to 7,444

Adjusted operating profit fell 0.3% yr/yr, adjusted profit before tax down 13.6%

Redrow integration progressing well, delivering cost synergies in line with targets

Outlook

Barratt Redrow expects FY26 home completions of 17,200-17,800, including c. 600 JV completions

Company anticipates FY26 adjusted profit before tax within consensus estimates

Barratt Redrow's FY26 outcome depends on spring selling season sales activity

Result Drivers

REDROW INTEGRATION - Integration of Redrow progressing well, delivering cost synergies in line with targets

HOME COMPLETIONS - Total home completions increased by 4.7% to 7,444, driven by a 26.4% rise in affordable home completions

MARKET CONDITIONS - Stable trading environment with subdued market and low consumer confidence affecting demand

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
GBP 2.63 bln
H1 Adjusted Pretax Profit
GBP 199.90 mln
H1 Dividend
GBP 0.05


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the homebuilding peer group is "buy"

Wall Street's median 12-month price target for Barratt Redrow PLC is GBp470.00, about 20.8% above its February 10 closing price of GBp389.00

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nRSK4986Sa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)