Barratt Sees Limited Iran Sales Impact, Warns on Higher Costs

Barratt Redrow Plc maintained its guidance for profit and sales this year even as it warned that construction cost inflation could be impacted by the conflict in Iran next year.

Britain’s largest homebuilder is on track to complete 17,200 to 17,800 homes this year, in line with a company compiled consensus of 17,416 to 17,589, according to a statement Wednesday. While the firm is cautious of the impact of the Middle East conflict — which has pushed up UK mortgage costs thanks to elevated inflation expectations — the number of homes it has pre-sold means its guidance for the year is unchanged.