For the six months to 31 December 2011, Barratt鈥檚 profit from operations was 拢61.1m (2010: 拢43.5m), a 40.5% increase, with operating margin increasing to 6.4% (2010: 5.0%).
Revenues for the half-year increased by 8.6% to 拢952.8m (2010: 拢877.6m).
Profit before tax was 拢21.6m (2010: loss before tax of 拢4.6m).
The second half of the financial year has started strongly, the company said, with private sales up 22%.
Private forward sales as at 19 February 2012 were up by 24.3% to 拢693.2m (20 February 2011: 拢557.9m).
With higher margin land now coming on stream, second half gross margin and operating profit are also expected to be up on last year鈥檚 results.
Group chief executive Mark Clare said: 鈥淥ver the last six months we have continued to improve the performance of the business, despite the wider economic uncertainty. We have delivered a further substantial increase in profits and recently acquired high margin land is now driving further recovery. We have again brought debt and land creditors in below expected levels. We have seen a strong start to 2012 and over the first seven weeks private reservations are running 21.8% ahead of this time last year.鈥�
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