Barratt Developments Plc (LON: BTRW) has announced a rise in its annual pre-tax profit, driven by an increase in home sales, alongside the launch of a substantial share repurchase program valued at approximately £386 million ($516.9 million).

The UK-based housebuilder reported selling 17,667 homes in the fiscal year ending June 28, with an average selling price of £352,000. This compares to 16,826 completions at an average price of £344,200 in the prior financial period.

The company stated that its adjusted pre-tax profit for fiscal 2026 is anticipated to align with the market consensus of £559.5 million, up from £488.3 million a year earlier.

This sales performance fell within the firm's previously provided full-year volume guidance range of 17,200 to 17,800 homes.

The net private reservation rate per outlet per week showed a slight improvement, rising to 0.64 from 0.63.

As of the year-end, the total forward sales order book, including joint ventures, stood at £2.81 billion, covering approximately 9,728 homes. This compares to a figure of £2.92 billion for 9,835 homes as of June 29, 2025.

Looking ahead to the next financial year, the company has provided a volume guidance range of 17,700 to 18,200 homes.

Barratt Developments concluded the period with a strong cash position of around £772 million, stating that its robust balance sheet provides the financial strength and flexibility to navigate the operating environment in the coming year.

The company commented that while the broader macroeconomic backdrop is expected to continue impacting performance in fiscal 2027, its past results demonstrate the resilience of its business model and its capacity to adapt swiftly and effectively.