Barratt hands staff £1,000 each to ease cost of living squeeze

Grant Prior 3 years ago
Share

Britain’s biggest house builder Barratt is handing staff an extra £1,000 each to help with the cost of living crisis.

It is the latest move by the housing giant to help workers after it brought forward the annual salary review from 1 July to 1 April 2022 awarding a 5% increase to all eligible employees.

The payments were revealed in a trading update this morning for the year to June 30 2022 highlighting an adjusted pre-tax profit of between £1,050m and £1,060m.

But the bottom line will be hit by adjusted costs of £412m which mainly relate to post-Grenfell cladding work and “reinforced concrete frame remediation works”.

David Thomas, Chief Executive, said: “We have delivered an excellent performance this year, reflecting the strong customer demand for our homes and the productivity of our sites.

“We are delighted that completions have now returned to pre-pandemic levels and I am grateful for the hard work and dedication of our teams and partners over the past two years to achieve this important milestone.

“While there are clearly macro-economic uncertainties ahead, the housing market remains robust, our forward order book is strong and we have the resilience and flexibility to react to changes in the operating environment.

“Our focus remains on addressing the UK’s housing shortage with the high-quality, energy-efficient, sustainable homes and developments which we pride ourselves on building.”

Latest news

Mace confirmed for £140m Gatwick Airport Pier 6 extension

Contractor PJ Hegarty has started enabling works in middle of busy airport
3 hours ago

Graham takes on ISG £45m Coventry cultural hub job

Firm will start conversion work in the Spring on former IKEA store
4 hours ago

Alun Griffiths to “restructure and resize” after £95m loss

Redundancies due to be announced at Welsh civils contractor
1 day ago

Fire safety project approval delays hit Van Elle profits

Piling specialist also reviews future of Canadian operation amid fresh economic uncertainty
10 hours ago

JRL Malaysian backers plan £150m London city office refurb

Ardmore set to deliver landmark 25 Finsbury Circus building overhaul
10 hours ago

500-home block to replace 19 storey Sutton office tower

Landmark project to deliver 312 Build to rent and 195 co-living homes
11 hours ago

Building envelope specialist Bailey buys Comar

Specialist now offers complete building envelope solutions
10 hours ago

Subcontractors wanted for work across Wales

Big name buyers at latest Constructionline event: Register now
10 hours ago

Balfour Beatty profit dented by £83m building safety hit

Increased order book at £18bn secures growth over next two years
1 day ago

Expanding utilities specialist Ipsum buys Matrix Power

Power engineering contractor takeover will strengthen offer in North East
1 day ago

Historic scaffolding firm files administration notice

Hertfordshire based Rodells has been trading since 1898
1 day ago

Planning Bill to have “seismic” impact on construction

Building-boosting reforms go before Parliament
2 days ago

Briggs & Forrester hits record revenue and orders

M&E specialist rebounds with strong growth across three divisions
1 day ago

Man Utd confirm plan for £2bn ‘super-tent’ stadium

Club to press ahead with 100,000-seat 'Wembley of the North'
2 days ago

Government spending keeps profits edging-up at Kier

91% of work now with public sector and regulated companies
2 days ago

Costain on track for step change to 5% margin

Alex Vaughan says order book has jumped £1.5bn to £5.4bn
2 days ago

Mace tops February contracts league

Confirmation of £300m London Victoria Street project lifts firm to pole position
2 days ago

Wates raids Laing O’Rourke for new construction operations chief

George Mosey leaves Laing O'Rourke after 16 years
3 days ago

Travis Perkins CEO Pete Redfern steps down due to ill health

Redfern joined builders' merchant last year after 14 years at Taylor Wimpey
3 days ago

Morgan Sindall wins £61m Liverpool lab scheme

Construction to start this Autumn on latest Knowledge Quarter project
2 days ago

Glencar to build timber-framed office block

Work to start next month on 79,200 sq ft scheme in Maidenhead
3 days ago

Shed specialist Marbank files administration notice

£67m turnover portal-framed building specialist files court notice
3 days ago

Birmingham council submits £1bn Druids Heath plan

High rise estate to be replaced by-3,500 home eco village
3 days ago

Cannabis farm gang posed as utilities contractor

Gang jailed for 28 years after diverting power to more than 100 cannabis farms
6 days ago

Firm fined after workers climb scaffold without ladder

HSE investigation prompted by death on Liverpool site
3 days ago

Clancy renews £250m Southern Water deal

Contractor vows to maximise value for money and minimise disruption
3 days ago

McLaren go-ahead for 314 flats Watford scheme

Police station and magistrates court to be demolished
4 days ago

Former Liverpool mayor charged in building contracts probe

Construction bosses also charged as part of Operation Aloft
6 days ago

Bidding to start for £700m Irish sea interconnector work

Work includes converter stations at Hunterston and Kilroot near Belfast
6 days ago

Muse to redevelop Durham County Hall HQ site

Morgan Sindall regen specialist seals another major development deal
6 days ago

Contractor services