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Barratt Redrow confirms guidance, flags rising uncertainty
(Sharecast News) - Barratt Redrow reiterated guidance on Wednesday, but warned that war in the Middle East was making visibility beyond the current year more uncertain. Updating on trading, the homebuilder said the third quarter had been "solid", with reservations underpinned by robust customer demand. The net private reservation rate was 0.67, 6.3% higher year-on-year, while total forward sales stood at £3.54bn as at 29 March. It delivered a total of 3,274 total home completions in the period.
As a result, Barratt said it remained on track to deliver total home completions of between 17,200 and 17,800 in the current year, and adjusted pre-tax profits in line with consensus. However, it also flagged that visibility beyond the current year was now "more uncertain".
The blue chip said: "The ongoing conflict in the Middle East is contributing to increased economic uncertainty, including the potential for a more prolonged higher interest rate environment and renewed cost pressures.
"While we currently expect any direct impact on the 2026 full year to be limited, visibility beyond the current financial year remains more uncertain."
Following a subdued end to 2025, the UK housing market had started to pick up, helped by expectations for further rate cuts.
However, the outbreak of war in the Gulf has sent global energy prices soaring, reigniting inflation fears. The Bank of England had been expected to cut rates in March, but instead left them on hold, noting it stood ready to tackle any increase in inflation.
Swaps markets are now pricing in interest rate rises this year.
David Thomas, Barratt Redrow chief executive, said: "We have a proven track record of navigating uncertainty and remain confident in our financial strength and ability to adapt to changing market conditions.
"We will continue to closely monitor developments while maintaining a disciplined approach to capital allocation, selective land investment and rigorous cost control."
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