Barratt Developments PLC/ADR Business Summary

Barratt Redrow PLC (formerly Barratt Developments PLC) is the United Kingdom’s largest residential property developer by revenue, operating a high-volume business model centered on the acquisition of land, design, construction, and sale of new-build homes. The company generates revenue primarily through three core segments: private residential sales, affordable housing partnerships with local authorities, and sales to the Private Rental Sector (PRS). Following its 2024 merger with Redrow, the group operates a multi-brand strategy utilizing the Barratt Homes, David Wilson Homes, and Redrow brands to target diverse market demographics from first-time buyers to premium home seekers. The company also maintains a strategic land promotion arm, Gladman Developments, which secures planning permissions for future sale or development. Its primary direct competitors include Taylor Wimpey, Persimmon, and The Berkeley Group; Barratt Redrow currently maintains a market-leading position in terms of annual completions, targeting a medium-term output of 22,000 homes per year. Leadership is spearheaded by Group CEO David Thomas, who has led the company since 2015 and previously served as its Group Finance Director, bringing extensive experience from senior roles at The GAME Group and Millennium & Copthorne Hotels. In November 2025, Micheal Passmore was appointed as interim Deputy CFO to oversee core finance functions following the departure of Mike Scott, while Mike Roberts serves as Chief Operating Officer, having succeeded long-time executive Steven Boyes in September 2025. The executive committee was further bolstered in January 2026 by the appointment of Tim Seddon as Group Operations and Change Director to lead post-merger integration. The board is chaired by Caroline Silver, a veteran investment banker and former Chair of PZ Cussons, with notable non-executive directors including Senior Independent Director Nicky Dulieu and Jasi Halai, the COO of 3i Group.