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

Grant Prior 2 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

Ridge buys rival consultant Jubb

Acquisition will see 100 new staff join Ridge
1 hour ago

Enabling works to start £130m Huyton town centre regen

Phase one includes a new council HQ, hotel and 72 flats
2 hours ago

Grainger build to rent pipeline rises to £1.4bn

Rental specialist buys sites in Sheffield and Cardiff to build 600 rental homes
2 hours ago

Kier wins Cambridgeshire County council estate upkeep

Firm will provide building and M&E services to 106 buildings across the county
1 hour ago

Louvres and solar shading specialist files for administration

Hampshire based ALPS lodges court notice after 25 years in business
2 hours ago

Speedy Hire posts a loss in latest results

Hire giant confident of better performance in next six months
2 hours ago

Esh to lead next phase of Riverside Sunderland regeneration

Infrastructure work will allow further development of Sheepfolds area
1 hour ago

Green light for £1.3bn Edinburgh coastal town revamp

First phase of Granton Waterfront scheme will see Cruden Homes create a new community
19 hours ago

Vistry chief operating officer steps down

Earl Sibley exits as his COO role axed for more direct reporting to CEO
1 day ago

House builder Camstead goes into administration

Work stopped on three current sites
2 days ago

Death of piling legend Roger Bullivant

Industry innovator dies after long illness aged 85
1 day ago

ESS Modular went down owing suppliers £7m

Modular specialist owned by ISG owner Cathexis
1 day ago

Builders back farmers in inheritance tax protest

"A rethink is desperately needed" say National Federation of Builders
1 day ago

Willmott Dixon wins £36m leisure centre upgrade

Work to start on historic Westminster 1930s Grade II listed Seymour Centre
1 day ago

Graham wins £100m Cardiff Crossrail phase 1

Work on route to Cardiff Bay to start before end of next year
2 days ago

Laing O’Rourke appoints new European MD

Peter Lyons to take-up new role in February
3 days ago

Profits dip at Stepnell ahead of demerger

Turnover and secured workloads up ahead of restructure
3 days ago

HS2 green bridge deck takes shape

100m-wide wildlife bridge to carry hedgerows and country lane over HS2
2 days ago

1,000-home Wolverhampton city centre scheme in for planning

ECF and council advance City Centre West build to rent scheme
3 days ago

Sisk clinches £54m North London council HQ revamp

Haringey's iconic Grade II listed civic centre to be brought back into use
3 days ago

Ofgem approves £2.5bn Eastern Green Link 1

Work to start next Spring on cable project from Scotland to the north of England
3 days ago

Anglian Water hunts for £1bn delivery partner

Programme delivery partner wil integrate with client team over 15-year plan
3 days ago

Hadden collapse costs supply chain £6.7m

"Highly unlikely" subcontractors will receive anything for their unpaid invoices
3 days ago

Management buyout at M&E specialist

£25m turnover Kimpton in second MBO in its 60-year history
3 days ago

BAM finalises £71m deal to replace first major RAAC school

Work to start on new St Leonards Catholic School in Durham
3 days ago

Scaffolder hit by two tonne weight at nuclear plant

Court hands out £633,000 in fines after Dungeness B decommissioning incident
3 days ago

Go-ahead for 860,000 sq ft East London medical campus

Whitechapel Road scheme of six new and repurposed buildings
3 days ago

Site labour rates hit record high as cost inflation returns

Industry's biggest payroll firm says rates rose nearly 5% last month in London
6 days ago

Morris & Spottiswood acquires part of ISG fit-out division

ISG Cathedral acquisition saves 111 jobs and expands presence across England
7 days ago

New work drives Q3 construction output uplift

Third quarter activity up 0.8% despite slowdown in September
6 days ago

Contractor services