Barratt Developments, Britain's biggest housebuilder, has seen profits for the year rise 159% to £110m.

Mark Clare, the group's chief executive told the Today programme's Simon Jack that "the most important ingredient to the improvement is the fact that we had committed to invest £1.5bn in new land and the benefit of that is now coming through.

"We've certainly taken advantage of the fact that land prices have fallen over the past few years."

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