Barratt Redrow has seen its revenue increase by 33.8% to £5.58bn in the year to 29 June, after operating in what it described a "tough market".

The housebuilder also saw its profit before tax jump by 26.8% to £488.3m, while its profit before Redrow’s purchase price allocation totalled £591.6m, beating expectations.

Furthermore, its total home completions for the period reached 16,565, increasing by 18.3% year-on-year, while it also confirmed annual cost synergies of £69m against its target at least £100m.

This has resulted a £20m reduction in costs through the income statement, with a further incremental cost reduction of £45m expected in the 2026 financial year.

Chief executive at Barratt Redrow, David Thomas, said: "We have delivered a solid performance in a tough market, with adjusted profits ahead of expectations despite home completions coming in slightly below our guided range. The acquisition of Redrow is transformative for the group, and I am pleased with the progress we have made on delivering synergies ahead of our targets and executing a successful integration, which is now largely complete."

Barratt Redrow added that its proposed dividend in the 2025 financial year increased by 8.6% to 17.6 pence. It also completed a £50m share buyback programme in the second half of the last financial year and its £100m share buyback scheme is ongoing for FY2026.

In its outlook, the housebuilder expects its total home completions of between 17,200 and 17,800 in the 2026 financial year.

However, it added that this assumes a normal autumn selling season, but it added that the Autumn Budget and "related uncertainties around general taxation" and that applicable to housing introduced additional risk.

Thomas added that it expects limited growth in the current financial year as the housing market remains challenging, although the long-term fundamental of the sector "remain compelling".

Investment director at AJ Bell, Russ Mould, stated that the results come as the housebuilding sector remains nervous ahead of the Autumn Budget, and that it is "notable" to see Barratt Redrow’s concern ahead of November’s Government announcement.

He concluded: "Barratt achieving its guidance on completions for the current financial year is contingent on buyer confidence coming through this period without serious impairment. Like a lot of individuals and businesses, it will be crossing its fingers ahead of 26 November.

"The company’s results themselves were solid enough and didn’t contain any major surprises. Importantly, the integration of the Barratt and Redrow businesses is progressing well.

"However, like much of its peer group, Barratt can only lay the foundations ahead of what it will hope are better market conditions to come, and perhaps even some support from Government. A healthy increase in the dividend is a signal of confidence and the company can lean on its robust balance sheet and healthy landbank."

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