BARRATT Developments has highlighted a large number of houses built in Scotland using sustainable timber frame systems as it posted UK-wide sales at an 11-year high.
The firm also flagged ambitions to expand the use of timber frames across England and Wales in wake of the summer acquisition of the Scottish Borders-based maker Oregon Timber Frame.
It said that, over the last three years, it has built 5,274 homes using timber frames, with the majority in Scotland.
The firm said it is increasing its use south of the Border, adding: “Timber frame construction is a sustainable, low energy method of build manufacture from the world’s most renewable building material and is built in factories to high standards.”
Barratt acquired the firm in June. It said: “Oregon was already one of our key timber frame suppliers providing high quality products and excellent customer service. The experienced Oregon management team continue to lead our timber frame business.”
The firm defied property market worries to deliver an impressive set of annual results.
The group unveiled an 8.9 per cent rise in pre-tax profits to £909.8 million for the year to June 30 after house sales reached an 11-year high, up 1.6% at 17,856.
It comes despite a slowdown in the wider housing market as Brexit uncertainty has seen buyers and sellers put off moving house.
David Thomas, Barratt Developments chief executive, said: “It has been another outstanding year delivering a strong operational and financial performance.
“The group’s long term investment in quality and operational excellence continues to drive margin improvements, alongside our highest number of completions for 11 years.
“As the only major housebuilder to be awarded a 5 Star rating for customer satisfaction for ten years in a row, we continue to lead the industry in quality and customer service.”
The company also confirmed a fall in the average private selling price over 2018-19, down 5% to £312,000 due to changes in the mix of homes sold
John Moore, senior investment manager at Brewin Dolphin, said that “having maintained high build standards Barratt Developments has seen demand continue to grow”, adding: “Despite any political uncertainty, Barratt appears to be in a healthy position going forward with cash on its balance sheet.”
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