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The National
a day ago
- Business
- The National
Scottish company named one of the world's 500 most sustainable by Time
Barratt Redrow, which owns housebuilder Barratt and David Wilson Homes Scotland, was featured on TIME magazine's 500 Most Sustainable Companies for 2025. The firm was recognised for its responsible developments, such as those at St Andrews, Cornhill Village in Hamilton and Huntingtower in Perth. It was also commended for its industry-leading commitment to preserving and enhancing the natural environment. The firm was named among the 500 most sustainable companies in the world (Image: Getty Images) Scottish firm named one of the world's most sustainable companies Before its merger with Redrow to form Barratt Redrow, Barratt Developments was the first major housebuilder to set science-based emission reduction targets and is a signatory of the UN Global Compact. Alison Condie, regional managing director at Barratt and David Wilson Homes Scotland, said the firm is "immensely proud" of its legacy of building not only "high-quality" homes, but also a "more sustainable" future. She added that "this achievement reflects the dedication of our teams to reducing our impact, innovating and creating communities that last.' Only 32 UK-based companies received the recognition (Image: Getty Images) David Thomas, CEO of Barratt Redrow, said: 'We are incredibly proud to be recognised by TIME magazine as one of the world's most sustainable companies." He added that "sustainability is at the heart of everything we do" and that "being included on this global list is both an honour and a powerful motivation to keep pushing the boundaries of what responsible homebuilding can achieve.' Recommended Reading: Only 32 UK-based companies received the recognition in 2025, with all of these setting the benchmark on sustainability performance, transparency and innovation. This TIME ranking was pulled together in partnership with Statista, which used a "transparent, multi-stage methodology to identify the world's most sustainable companies." This process began with a pool of some 5000 firms around the globe, which was whittled down to just 500.
Scotsman
a day ago
- Business
- Scotsman
TIME names East Scotland housebuilder among world's most sustainable Ccompanies
Barratt Redrow, which owns local housebuilder Barratt and David Wilson Homes East Scotland, has been named as one of TIME magazine's World's 500 Most Sustainable Companies for 2025. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... The recognition for the developer, who is responsible for developments such as David Wilson Homes at St Andrews, Merchant Quay in Leith and Bangour Village in West Lothian, underscores its industry-leading commitment to preserving and enhancing the natural environment and building great places that promote healthy and happy living for customers. This accolade places Barratt Redrow amongst a select group of companies across the globe recognised for their leadership in sustainability, and they are on the only UK-based housebuilder to feature on the list. Advertisement Hide Ad Advertisement Hide Ad Andrew Morrison, Managing Director at Barratt Homes and David Wilson Homes East Scotland, said: 'We are immensely proud that our work here in East Scotland contributes to a national legacy of building not only high-quality homes, but a more sustainable future. This achievement reflects the dedication of our teams to reducing our impact, innovating and creating communities that last.' Andrew Morrison, Managing Director at Barratt Homes and David Wilson Homes East Scotland David Thomas, CEO of Barratt Redrow, said: 'We are incredibly proud to be recognised by TIME magazine as one of the world's most sustainable companies. 'Sustainability is at the heart of everything we do - from driving carbon emission reductions across our value chain to creating communities that thrive for generations. Being included on this global list is both an honour and a powerful motivation to keep pushing the boundaries of what responsible homebuilding can achieve.' Only 32 UK-based companies received the accreditation in 2025, all of whom are setting the benchmark on sustainability performance, transparency and innovation. Advertisement Hide Ad Advertisement Hide Ad TIME and its research partner, Statista, used a transparent, multi-stage methodology to identify the world's most sustainable companies. The process began with a pool of over 5,000 of the world's largest and most influential companies. Following a rigorous four-stage assessment, the final ranking excluded unsustainable industries and considered factors like external sustainability ratings and commitments, corporate reporting practices, and environmental and social performance indicators. This comprehensive approach produced a ranking of 500 companies from over 30 countries. Leading sustainable housebuilding Prior to the merger with Redrow to form Barratt Redrow, Barratt Developments was the first major housebuilder to set science-based emission reduction targets and is a signatory of the UN Global Compact, reflecting ongoing commitments to its Ten Principles for Corporate Sustainability. Working with highly skilled partners in the sector, the business is driving change across the organisation and its value chain to meet society's most pressing challenges, including climate change, diversity and inclusion, and human rights. Barratt Redrow is committed to being transparent on sustainability plans and performance with independent assessments and accreditations. As Barratt Developments, the Leicestershire-based company was ranked the highest national housebuilder in the NextGeneration sustainability benchmark last year, and was awarded the Crystal Award for being the most transparent housebuilder. Advertisement Hide Ad Advertisement Hide Ad At the University of Salford, Barratt Redrow and scientists are working together to rigorously test how climate change will affect the homes of the future. The research from Energy House 2.0 is being shared with housebuilders around the world to support their own transition to zero carbon. Already, the learnings from Energy House 2.0 are being transferred to customer homes. According to HBF data (January 2025) a brand-new home could be up to 65% more energy-efficient than an older home.* Barratt Redrow is committed to all homes being zero carbon in regulated energy use from 2030. As part of this, over 1,200 Air Source Heat Pumps have so far been installed into homes and we gather customer insight on perceptions and experience with a range sustainable technology to inform our future roll out strategy. On site, Barratt Redrow is taking steps to reduce our operational footprint, with a major focus on eliminating and reducing diesel use. This includes trials of hydrotreated vegetable oil as a lower-carbon fuel alternative, and trialling hydrogen telehandlers. Alongside this, we're improving site energy efficiency, expanding the use of renewable electricity and introducing tools to monitor emissions from construction activities. Advertisement Hide Ad Advertisement Hide Ad A focus on driving down waste has led to 97% of waste being diverted from landfill in 2024. A decade-long partnership with the RSPB has changed the way in which nature and wildlife is incorporated into communities. A transformational year The past year has been transformational with the combination of Barratt Developments and Redrow in October 2024. The combination is focused on tackling the country's housing shortage by growing towards delivering 22,000 new homes a year and leading the industry on quality, customer service and sustainability. Another milestone has been the creation of the MADE Partnership, a joint venture between Barratt Redrow, Homes England, and Lloyds Banking Group. MADE was established to provide the expertise, vision, and financial capacity to deliver large-scale and complex regeneration projects. Barratt's impact as an employer is far reaching, generating almost 43,000 jobs both directly and through our supplier chain, contributing £4.16 billion to the national economy and £536m into local communities through infrastructure, affordable housing, community facilities and environmental improvements. Advertisement Hide Ad Advertisement Hide Ad Barratt Redrow's determination to be a quality, sustainable builder was recognised by the NHBC's Pride in the Job Quality Awards with 115 site managers given awards in 2025, including 11 in Scotland – more than any other housebuilder for the 21st year running. Also, the housebuilder was awarded Five Stars by customers for the 16th year in a row.
Time of India
16-07-2025
- Business
- Time of India
UK's Barratt Redrow misses home completion target, warns of 'fragile' buyer confidence
BENGALURU: Britain 's largest homebuilder Barratt Redrow on Tuesday missed its annual forecast for home completions and warned confidence among buyers remained "fragile", sending its shares down almost 13%. The group announced 16,565 home completions for the year ended June 29, below its forecast of 16,800 to 17,200, chiefly due to delays in transferring ownership to international customers and to the private rented sector in London . Completions involve homes that have been built and the official transfer of ownership to the buyer. London has been a weak spot for Barratt Redrow in the past year as completions and margins have been weaker than in its regional business. Britain's faltering economy is weighing on consumer confidence and tempering housing demand, overshadowing a gradual decline in interest rates and government incentives that have recently offered some optimism. The slow roll-out of reforms to enhance safety and modernise the housing sector has also hampered delivery targets for builders, including Barratt Redrow, which expects its average number of sales outlets to be broadly flat in fiscal 2026. High-end homebuilder Berkeley , which has a strong London presence, in June cut its profit expectations for the next two years, blaming market and regulatory pressures. "Homebuyer confidence remains fragile," Barratt Redrow said in a trading statement, echoing concerns around affordability raised by rivals including Persimmon and Vistry . While government support could help demand, particularly in high-cost areas like London and South East England, Barratt Redrow is leaning on incentives like topping up deposits to support buyers, CEO David Thomas said during an analyst call. Shares in the FTSE 100-listed company hit their lowest since October 2022 on Tuesday, and pulled the broader housing index down 4.7%. Barratt Redrow, formed after the merger of the two eponymous companies last year, said it expected fiscal 2025 adjusted profit before tax and charges to be in line with analysts' consensus forecast of 582.6 million pounds ($783.1 million). For fiscal 2026, it expects home completions to rise to between 17,200 and 17,800.
Yahoo
15-07-2025
- Business
- Yahoo
Housebuilding giant hit by London exodus as sales slump
One of Britain's biggest housebuilders has warned of weaker-than-expected sales as buyers shun London. Barratt Redrow sold 16,565 homes in the year ending June 29, falling short of a forecast of between 16,800 and 17,200 that it had set out in April. The developer cited 'fewer international and investor completions than expected' in London, adding that 'homebuyer confidence remains fragile and mortgage rates remain high compared to recent years'. The housebuilder stated: 'The London housing market has been particularly challenging with weak demand from both domestic and international homebuyers.' London's housing market has slumped after the Chancellor ended stamp duty discounts in April. Mortgage rates have also stayed higher than expected, which has dented affordability. These have resulted in a wave of price reductions across the capital. Shares in Barratt Redrow fell by as much as 13pc in early trading before recovering to around 8pc in the mid-morning. Around £778m has been wiped off its value. Barratt Redrow said it expected to sell between 17,200 and 17,800 homes in its 2026 financial year, reflecting 'revised expectation of broadly flat average sales'. None the less, it noted that mortgage market competition and availability have improved. The bill for repairing safety defects on high-rise homes, required to avoid another Grenfell-style cladding disaster, has also risen by around £98m to total £248m after discovering issues at buildings within its southern division and at a large London development. It said it will pursue its subcontractors to recover those costs. However, the developer said it will deliver profit in line with market expectations, which will be shared in future trading updates. David Thomas, chief executive, said: 'Although demand during the year has been impacted by consumer caution and mortgage rates not falling as quickly as hoped, there remains a long-term structural under-supply of housing in this country. 'We remain confident in our medium-term ambition to deliver 22,000 high-quality homes a year, and in the long-term demand for our high-quality homes.' The news comes after findings by Molior showed sales of new-build homes in the capital plunged to their lowest level since the global financial crisis. The decline, which was more pronounced over the past three months, was blamed on the insufficient financial incentives for property developers to build new homes and for buyers to acquire them. This has led to fewer developments and sales. Last week, rival housebuilding giant Vistry posted a profit drop of a third to £80m for the first half of the year, after issuing a string of profit warnings in recent months. It reported 6,800 home completions for the six months ending June 30, down from 7,792 in the previous year. Vistry cited sluggish demand from its affordable housing partners on the back of funding constraints and uncertainty ahead of the Chancellor's June Spending Review, but outlined its hopes that the Government's £39bn affordable homes strategy will boost its business. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Daily Mail
15-07-2025
- Business
- Daily Mail
Barratt Redrow completions fall short in latest blow to Labour's new home drive
Labour's housing targets have suffered a major setback after Britain's biggest developer admitted it is building fewer homes than expected amid weak demand from overseas buyers. Barratt Redrow had planned to build between 16,800 and 17,200 new homes in the 12 months to 29 June – making it a vital player in the government's efforts to boost development. But the company on Tuesday revealed it only built 16,565 homes, due in part to subdued demand from international buyers amid reports they have been put off by high taxes. The update is a setback for Labour's plan for 1.5million new homes to be built in this Parliament – or 300,000 a year. And in a further blow, Barratt warned that confidence among buyers 'remains fragile'. The update sent Barratt shares tumbling more than 11 per cent in early trading to their lowest since October 2022. Other major housebuilders also fell, with fellow FTSE 100 groups Persimmon, Taylor Wimpey and Berkeley all down more than 2 per cent Chief executive David Thomas highlighted a lack of demand for new homes in London among international buyers amid reports the wealthy are fleeing the UK over concerns about high taxes. He added: 'Demand during the year has been impacted by consumer caution and mortgage rates not falling as quickly as hoped.' Julie Palmer, a partner at Begbies Traynor, said: 'The long-anticipated rebound in housebuilding has yet to take hold. Indeed, the drag from weak consumer confidence, elevated mortgage rates, and a lack of meaningful government intervention continues to limit what otherwise capable operators can deliver. 'Barratt clearly has strong fundamentals in place, but like the rest of the sector, it is constrained by forces beyond its control. Still, where many smaller players are struggling to stay afloat, Barratt's scale and strength leave it well placed to ride out the current situation and lead the recovery when conditions improve.' The disappointing figures came as Chancellor Rachel Reeves said first-time buyers are set to see an 'instant impact' from looser lending rules. More mortgages will be available at more than 4.5 times a buyer's income following recent Bank of England recommendations that some lenders can offer more high loan-to-income mortgages if they choose to. This will create up to 36,000 additional mortgages for first-time buyers over the first year, the Government said. Hopes are also mounting that the Bank of England will cut interest rates again next month – from 4.25 per cent to 4 per cent – in a further boost for borrowers. However, the pace of rate cuts remains slower than many expected, leaving mortgage rates elevated for many borrowers. In a trading statement to the City, Barratt said: 'Homebuyer confidence remains fragile. We have seen some improvement in mortgage market competition and availability but underlying private sales activity has remained sensitive to consumer caution, driven by the economic backdrop and the ongoing affordability challenges faced by homebuyers.' Barratt Redrow, which was formed after the merger of the two eponymous companies last year, said it expects profits for the year to be in line with a consensus of analyst forecasts of £582.6million. It also expects to build between 17,200 and 17,800 new homes in the coming 12 months.
