AGM Trading Update

AGM Trading Update

Barratt Redrow plc (the ‘Group’) is today issuing a trading update for the 17-week period from 29 June 2026 to 25 October 2026 (the ‘period’). All comparatives are to the 17-week period from 30 June 2025 to 26 October 2025 unless otherwise stated. Barratt Redrow plc’s FY27 reporting period will end on 30 June 2027.

Dean Banks, Chief Executive, said:

“Our trading performance in the first 17 weeks of the financial year has been resilient against a backdrop of challenging market conditions, with continued pressure on affordability. While the underlying private reservation rate has been softer, we have seen stronger demand from the private rental sector.

“Over the past two months, I have been working closely with colleagues, customers and suppliers to understand our strengths and our opportunities. I have seen first-hand the quality of our people, their commitment to excellence and the passion they bring every day. There is much to build on, and I look forward to sharing more in due course.

“We welcome the Government’s ‘Your First Home’ scheme and its support for first-time buyers. Alongside planning reform, the scheme has the potential, over time, to support increased housing delivery.”

Highlights

Trading performance¹

The underlying private reservation rate per week in the period was 0.53 (FY26: 0.57), with a contribution of 0.06 (FY26: nil) from reservations to the private rental sector and other multi-unit sales, resulting in a total private reservation rate of 0.59 (FY26: 0.57). Over this period the Group generated 243 private reservations per week, including JVs, (FY26: 228) and operated from an average of 406 sales outlets (including JVs) (FY26: 402). (Appendix Ia).

Total home completions, including JVs, in the period were 3,223, 12.1% below the comparable period total of 3,665 homes. (Appendix 1c).

At 25 October 2026 the forward order book, including JVs, totalled 11,086 homes (26 October 2025: 10,669 homes) at a value of £3,315.4m (26 October 2025: £3,281.4m). (Appendix 1b). Meanwhile the Group was 56%² forward sold with respect to FY27 private home completions (26 October 2025: 60%³ forward sold), of which 62% are either completed or exchanged (26 October 2025: 64%).

Outlook

For the current year our guidance remains unchanged.

The market backdrop continues to be challenging with pressure on affordability for potential homebuyers. Whilst we welcome the introduction of ‘Your First Home’ to support housing delivery over time, it is too early to assess its impact on first-time buyer activity in FY27.

We remain focused on driving cost efficiencies, disciplined land investment and tightly managed control of work in progress.

Annual General Meeting

The Group will be holding its AGM at 11.00am today at the offices of Linklaters LLP, 20 Ropemaker Street, London EC2Y 9AR. There will also be a live webcast of the AGM for shareholders and the ability to submit questions during the meeting. Full details on how to access the webcast can be found in the Notice of AGM.

Forward-looking statements

This trading update contains certain forward-looking statements with respect to Barratt Redrow’s expectations and plans, strategy, management objectives, future developments and performance, costs, revenues and other trend information. All statements other than historical facts are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations, and all forward-looking statements are subject to assumptions, risk and uncertainty. Many of these assumptions, risks and uncertainties relate to factors that are beyond Barratt Redrow plc’s ability to control or estimate precisely, and which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. Any forward-looking statements made by or on behalf of Barratt Redrow are based upon the knowledge and information available to Directors on the date of this announcement. Accordingly, no assurance can be given that any particular expectation will be met, and you are cautioned not to place undue reliance on the forward-looking statements. Additionally, forward-looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The information contained in this announcement is provided as at the date of this announcement and is subject to change without notice. Other than in accordance with its legal or regulatory obligations (including under the UK Listing Rules and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority), Barratt Redrow does not undertake to update forward-looking statements, including to reflect any new information or changes in events, conditions or circumstances on which any such statement is based. Past share performance cannot be relied on as a guide to future performance. Nothing in this announcement should be construed as a profit estimate or profit forecast. Neither the content of Barratt Redrow’s website nor any other website accessible by hyperlinks from Barratt Redrow's website are incorporated in, or form part of, this announcement.

Notes:

1. Unless otherwise stated, all numbers quoted exclude Joint Ventures (JVs) throughout this statement.
2. Barratt Redrow’s private forward sold position with respect to FY27 private home completions is based on the mid-point of Barratt Redrow’s FY27 wholly owned completion guidance at 17,100 (17,700 total completions less 600 JVs) and assumes a 20% affordable home completion mix in FY27.
3. Our private forward sold position with respect to the prior year is based on actual wholly owned private home completions reported for the year.