Half Year 2023 Barratt Developments P L C Earnings Call Transcript
Okay. Good morning, everyone, and welcome. So I'm going to start with an overview of the first half, then move on to current trading and have a look at our priorities. Steven will then take you through our operational performance, and Mike will cover our financial performance in the half. I will then come back to look at industry fundamentals, sustainability and to conclude. First to reflect on the first half of the year that we're reporting, we delivered a very strong operational and financial performance in the first half with almost 7% completion growth to 8,626 homes. Adjusted pretax profit of GBP 521 million, a record first half profit for the group. And also a further improvement in return on capital employed to 29.6%. This performance reflected the strength of the forward order book coming into the financial year as well as the really excellent build performance across all of our sites during the period.
I would just like to take a moment to acknowledge the tremendous contribution from our employees, our subcontractors and our supply chain. However, we recognize the stark contrast with the
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