Barratt profits slide as it builds fewer homes

Barratt Developments, the UK's largest housebuilder, saw a sharp drop in profits after building fewer homes last year.It completed just 14,000 in the year to June, compared to 17,000 for the previous 12 months, and says the total will be lower again next year.Pre-tax profit fell by three quarters for the year, which Barratt blamed on high interest rates putting off housebuyers and inflation pushing up costs.The…