The Barratt Redow Plc Board declared an interim dividend for FY25 of 5.5 pence per share (FY24: interim dividend of 4.4 pence per share) and is to recommend a final FY25 dividend of 12.1 pence per share (FY24: final dividend of 11.8 pence per share) in line with their dividend policy of 1.75 times adjusted earnings per share. Subject to shareholder approval, the final dividend will be paid on 14 November 2025 to shareholders on the register at the close of business on 10 October 2025. The total proposed dividend for FY25, including the interim dividend, is 17.6 pence per share (FY24: 16.2 pence per share).
Other financial highlights include:
Resilient operational performance, delivering 16,565 total home completions3 (FY24: 14,004R and 17,972A).
Net private weekly reservation rate ahead by 16.4% at 0.64 compared to 0.55A aggregated performance for Barratt and Redrow in the comparable period (FY24: 0.58R).
Adjusted profit before tax and before Redrow purchase price allocation ('PPA') adjustments, at £591.6m (FY24: £385.0mR and £585.7mA) ahead of market expectations, reflecting some margin improvement and cost synergies crystallised ahead of initial estimates. Reported profit before tax £273.7m (FY24: £170.5mR).
Adjusted item charges of £214.6m (FY24: £214.5mR, £222.5mA) reflected legacy property charges of £92.6m, Redrow acquisition transaction costs of £36.2m, acquisition related reorganisation and restructuring costs of £56.8m and CMA commitment costs of £29.0m.
Performance underpinned by their strong balance sheet position with net cash at 29 June 2025 at £772.6m (30 June 2024: £868.5mR and £1,164.5mA).
Confirmed annual cost synergies of £69m against their target of at least £100m, resulting in a £20m reduction in costs through the income statement in FY25 profit and a further incremental cost reduction of £45m expected in FY26.
