House builder Barratt sees year profit at top end of forecasts

LONDON, July 10 Thu Jul 10, 2014 2:28am EDT

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LONDON, July 10 (Reuters) - British builder Barratt Developments said it expected its full-year profit to come in at the top end of forecasts, at about 390 million pounds ($664 million), after a strengthening house market resulted in a 8.6 percent rise in completed sales.

The company's completions for the year to end-June, including joint ventures, were 14,838, in line with its guidance, after sales rates at its sites improved during the year.

It said on Thursday that forward sales had jumped 44.7 percent to 1.2 billion pounds, and it expected to deliver a further significant improvement in performance in the current financial year.

Analysts had forecast pretax profit of between 366.0 million pounds and 387.1 million pounds, according to a Thomson Reuters consensus. ($1 = 0.5877 British Pounds) (Reporting by Paul Sandle; editing by Kate Holton)

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