Theimprovementwasdrivenbytheincreaseinbothaveragesellingprices(+3。

1%at£181,200)andoperatingmargin(increasingfrom5%to6。

4%)inadditiontoareductionininterestcosts。

Thecompanysaidthattheresultsreflectreflectboththegreaterstabilityofthemarketoverthelast12monthsofthedeliveryofourobjectivetorebuildprofitability。

Revenuetotalled£952。

8m,up8。

6%onthe£877。

6mgeneratedinthefirsthalfof2010。

Barrattmanagedtoincreasehousebuildingcompletionsfrom4,796to5,117year-on-year,withafallinsocialhousingcompletionsbeingoffsetbyprivatecompletions。

Overthelastsixmonthswehavecontinuedtoimprovetheperformanceofthebusiness,despitethewidereconomicuncertainty。

Wehavedeliveredafurthersubstantialincreaseinprofitsandrecentlyacquiredhighmarginlandisnowdrivingfurtherrecovery,accordingtoChiefExecutiveMarkClare。

Wehaveseenastrongstartto2012andoverthefirstsevenweeksprivatereservationsarerunning21。

8%aheadofthistimelastyear,hesaid。

Netdebtwas£542。

2mattheendoftheperiod,downfrom£537mtheyearbefore。

Thegroupsaiditdidnotconsideritappropriatetopayaninterimdividend(2010:nil)asitattemptstoimproveitsprofitabilityfurtherandstrengthenitsfinancialposition,whilstcontinuingtoinvestmentinnewsites。

BC

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