Barratt returns to profit - TW completes US sale

July 14, 2011
<p>Barratt's total completions for the year to June 30 stood at 11,171, similar to last year (11,377), as the firm continues to find the market challenging. Barratt has, however, returned to profit before tax, expecting to return £40 million against last year's £33 million loss.</p> <p>Ceo Mark Clare said: "Whilst we have seen some recovery following the difficult Autumn selling season, trading conditions in some areas outside London and the south east remain challenging.</p> <p>"FirstBuy is a timely boost and is proving popular but market recovery cannot be sustained without improved lending conditions. Our focus remains on improving margins rather than driving volumes.</p> <p>* Meanwhile Taylor Wimpey has completed the sale of its US business for $1.2 billion. Ceo Pete Redfern said that the sale confirmed TW's strategy to be a UK focused business and that the money will help the firm invest here. </p>

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