Barratt profit nosedives as margin slumps to 4.2%

The housing slowdown and yet more provisions for legacy building fire safety projects saw pre-tax profits at Britain’s biggest house builder plunge by just over three quarters to £170m from £705m in the prior year.
Housing completions fell by nearly a fitfh to 14,000 in the year to June with Barratt warning that this year’s level of completions will be even lower at 13,000 to 13,500.
Along with a 4% fall in sale prices revenue fell 22% to £4.2bn.
During the year, Ba