Barratt Redrow cuts land targets as energy costs rise
Barratt Redrow cut land spending by up to 30 percent due to rising energy costs. The builder reported resilient demand as reservation rates rose by 6.3 percent.
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The United Kingdom's largest residential developer, BARRATT REDROW PLC, has announced a sharp reduction in its land acquisition targets and spending plans. The company warned that escalating geopolitical tensions in the Middle East are likely to drive up energy costs, which will subsequently inflate the price of essential building materials in the coming years.
