Barratt Redrow says nearly 200 buildings needing safety defect fixes either being tendered or on site

Barratt Redrow said that close to 200 buildings needing work to fix safety defects are in the process of being tendered or on site.

The firm said 280 buildings need fixing with 95% of its portfolio having been assessed for issues that might need sorting out.

In its half year results this morning, the firm said194 buildings of 280 were either at tender or site mobilisation, or in the process of being remediated.

It said seven buildings were completed or assessed as needing no remediation, bringing the number to 280 – two more than the 278 recorded at its year-end last June.

The firm said its provision for repair work for the six months to 28 December was £829m, with the firm having forked out £73m during the period on repairs.

Meanwhile, its concrete frame remediation provision during the period was £187m. It said the number of buildings being checked or being repairs was stable at 165.

Of the 165, Barratt Redrow said 76 did not need remediation work, 17 have had work completed, 21 are currently under review and 51 have had remediation issues identified and are at various stages in the remediation process.

In its results, the firm said the number of homes it built during the period was up 5% to 7,444. Turnover was up 11% to £2.6bn while pre-tax profit was up one third to £156m. But costs associated with the deal to buy Redrow meant the firm’s adjusted pre-tax profit was down 14% to £200m.