The government's Help to Buy scheme has boosted sales
Housebuilder Barratt Developments says its full year profits will be stronger than expected, with the government's Help to Buy scheme boosting sales.
It said its sales rate was up 17.9% in the second half of its financial year, and up 34.7% since the launch of Help to Buy in April.
Barratt said full year pre-tax profits would be about £192m, "ahead of the top end of analysts' expectations".
The firm is the latest in the industry to report a boost from Help to Buy.
Redrow, Taylor Wimpey and Persimmon are among those to have benefitted. Recent house price surveys from the Halifax and Nationwide have also pointed to a recovery in the housing market.
"Momentum is continuing to build and with forward sales up substantially, we are confident we can improve our performance still further in the year ahead," said Barratt chief executive Mark Clare.
The company also has also stepped up its land-buying - with more than £1bn worth of purchases.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23251744#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
