StockMarketWire.com - Barratt Developments said it only expected to complete a limited number of homes in its current financial year through June.

The company, however, said it would carry out a phased return to work on its construction sites from 11 May, allowing a significant proportion of its furloughed staff to return to work.

Sites would open initially to implement the changes required under new working practices and protocols, and be followed by a phased return to construction, with 180 sites - around 50% of the total - in the first phase.

'We do not plan to restart work on our sites in Scotland at this time and will keep this position under review,' Barrett said..

As expected, since closing its sales centres, the company had experienced a low level of reservations, a trend that was expected to continue until its sales centres and show homes reopened.

Initially its construction activities would prioritise sold plots at advanced stages of construction.

As at 26 April 2020, the group had completed 11,776 homes, compared with 11,723 homes on-year, with total forward sales of 12,271 homes at a value of £2,852.9m.

'On 16 April 2020, we announced that we were in the process of furloughing around 85% of our employees, at their normal pay, until at least the end of May. With the phased reopening of our sites, a significant proportion of our workforce will be able to return to work during May,' it added.

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