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Barratt expects annual home completions ahead of expectations

By Reuters

(Reuters) – Barratt Developments Plc said on Thursday it expected to increase wholly-owned completions to between 16,000 and 16,250 homes this year, ahead of its previous estimates, as the sector benefits from government measures and low interest rates.

Britain’s largest homebuilder said forward sales, including joint ventures, as of May 2 stood at 3.70 billion pounds ($5.15 billion), compared with 2.83 billion pounds as at May 3 last year, adding that it is fully forward sold for fiscal 2021.

($1 = 0.7191 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich)