UK homebuilder Barratt Redrow reports FY home completions below outlook
July 15 (Reuters) - Britain's largest homebuilder, Barratt Redrow BTRW.L, reported home completions for fiscal year 2025 below its expectations on Tuesday, as an uncertain economy reignited affordability concerns and kept private buyers on the sidelines.
Home completions for the year ended June 29 came in at 16,565 homes, below the firm's guidance range of 16,800-17,200 homes. Barratt Redrow attributed the drop to fewer-than-expected international and investor completions in its London businesses.
Even as stabilising mortgage rates and government incentives have offered builders some cautious optimism, persistent economic uncertainty continues to weigh on consumer confidence and slow the pace of recovery in housing demand.
Meanwhile, Barratt Redrow announced a 100 million-pound ($134.4 million) share buyback programme on Tuesday.
($1 = 0.7441 pounds)
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