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Markets News

UK builder Barratt scraps special dividend as profit slumps

Sept 2 (Reuters) - Barratt Developments Plc, Britain’s biggest housebuilder, scrapped a special dividend payout for 2021 on Wednesday as it reported a near 30% fall in full-year housing completions and revenue, while forward sales were up from the year-ago period.

The company, which builds homes in England, Scotland and Wales said, pretax profit fell 45.9% to 491.8 million pounds ($657.73 million) in the full year ended June 30.

$1 = 0.7477 pounds Reporting by Samantha Machado in Bengaluru; Editing by Shailesh Kuber

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