Full Year 2023 Barratt Developments P L C Trading Statement Call Transcript
Hello, and welcome to the Barratt Developments PLC Trading Update Conference Call for the year ended 30th of June 2023. Please note, this call is being recorded. (Operator Instructions)
I will now hand you over to David Thomas to begin today's conference. Please go ahead.
Thank you very much, and good morning, everyone, and we appreciate you joining us this morning. I have as normal, Steven and Mike with me. I would like to just begin by thanking our employees, our subcontractors and all of our suppliers for their huge commitment in delivering what is a very strong performance in a challenging year.
The housing market has seen significant volatility in FY '23, which is reflected in the reservation rate movements that we have reported throughout the year. For the year, we have achieved a net reservation rate of 0.55, which is down some 32% on FY '22. We have supported this by increasing reservations into the private rental sector and also to registered providers
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