Barratt Redrow will enjoy annual cost synergies of £90m by year three, according to the two housebuilders, with associated costs of the deal in the interim of £73m. There was no mention of projected job losses. In its latest half-year results, Barratt saw its adjusted pre-tax profit fall nearly 70% to £157.1m in the six months to 31 December. Revenue for the period dropped by 33.5%. Barratt's adjusted operating margin fell from 18.4 per cent to 8.4 per cent, while its net cash stash slipped from £969million to £753m. Forward sales at the end of January fell to 8,760 homes from 10,854 a year earlier at a value of £2.26bn, down from £2.66bn last year. David Thomas, group chief executive of Barratt, said: "We have great respect for Redrow, its overall strategy, its leadership and employees, and its high-quality homes and communities.