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Sparks commentary

Industrials

Sparks

Barratt Redrow (LSE: BDEV) – AGM, trading and integration update
Published by Andy Murphy

Barratt’s acquisition of Redrow completed in August and received Competition and Markets Authority clearance on 4 October, paving the way for c £90m of costs savings and additional revenue synergies from 45 incremental sales outlets by 2028. Furthermore, collective consultation has begun on five potential divisional closures announced on 21 October. In total, Barratt Redrow’s private reservation rate rose by 36.7% to 0.67 from 0.49 (pro forma) for the period between 22 August and 13 October. The standalone Barratt rate increased by 31.9% for the longer period between 1 July and 13 October to 0.62. Barratt’s standalone guidance is unchanged and, with the addition of Redrow’s output, total completions are expected to be between 16,600 and 17,000 for the year to June 2025.

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