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Barratt profits rise to £390m

BARRATT Developments said profits for the year to June 30 will be at the top of analysts' estimates at around £390 million, compared with £192m the year before.

It has seen a significant increase in housing completions while average selling prices lifted 13 per cent to around £220,000.

It said the price increase was driven by increased delivery of larger homes in attractive locations as well as the rising market.

Total completions were up 8.6 per cent to 14,838 with forward sales at £1.2 billion.

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