Barratt Developments said today its integration of Wilson Bowden, which it bought in February, is now complete and “good progress” was being made on the roll-out of new IT systems.
The housebuilder, which was issuing a trading update that confirmed forward sales of £1.26bn, said that its good progress to date meant it was on course to achieve synergy targets of £30m in 2007/8, rising to at least £60m in 2008/9.
The group embarked in October on the roll-out of a single IT platform for the newly enlarged group. The project is expected to run until June next year.
Barratt absorbed one-off restructuring costs arising from the merger of £26.2m in the first half of 2007, with the figure including the cost of systems harmonisation.
No restructuring costs for the second half of the year were announced today, but the firm’s original spending estimate was £35m.
Barratt is also in the process of implementing a wide area network that will make possible the establishment of other group-wide systems including human resources.