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Barratt Developments PLC (BDEV.L)

BDEV.L on London Stock Exchange

625.00GBp
26 Nov 2020
Change (% chg)

-11.20 (-1.76%)
Prev Close
636.20
Open
636.80
Day's High
639.60
Day's Low
618.80
Volume
986,771
Avg. Vol
3,684,385
52-wk High
889.20
52-wk Low
349.40

Latest Key Developments (Source: Significant Developments)

Barratt Says There Is Continuing Strong Customer Demand For Its Homes
Wednesday, 14 Oct 2020 

Oct 14 (Reuters) - Barratt Developments Plc ::TRADING STATEMENT.ARE SEEING CONTINUING STRONG CUSTOMER DEMAND FOR OUR HIGH QUALITY NEW HOMES ACROSS COUNTRY.THERE IS CONTINUING STRONG CUSTOMER DEMAND FOR OUR HOMES.HAVE A HEALTHY FORWARD ORDER BOOK.FOCUSED ON REBUILDING OUR COMPLETION VOLUMES TO OUR MEDIUM TERM TARGET AND CAPACITY OF 20,000 HOMES.CONSTRUCTION ACTIVITY REMAINS IN LINE WITH FY21 PLANNED OUTPUT.IN PERIOD WE DELIVERED 4,032 (2020: 3,252) HOME COMPLETIONS.TOTAL FORWARD SALES (INCLUDING JVS) AS AT 11 OCTOBER 2020 WERE 15,135 HOMES (13 OCTOBER 2019: 12,963 HOMES) AT A VALUE OF £3,647.6M.BARRATT - CONTINUE TO EXPECT TO GROW WHOLLY OWNED COMPLETIONS TO BETWEEN 14,500 AND 15,000 HOMES IN FY21.  Full Article

Barratt Says To Continue To Cooperate With CMA During Investigation
Friday, 4 Sep 2020 

Sept 4 (Reuters) - Barratt Developments PLC ::BARRATT DEVELOPMENTS - STATEMENT REGARDING ONGOING CMA INVESTIGATION.BARRATT - COMMITTED TO PUTTING ITS CUSTOMERS FIRST AND WILL CONTINUE TO COOPERATE WITH CMA WHILST IT COMPLETES ITS INVESTIGATION.  Full Article

Britain's Barratt Says Directors To Take 20% Pay Cut Amid Virus Outbreak
Thursday, 16 Apr 2020 

April 16 (Reuters) - Barratt Developments PLC ::BARRATT DEVELOPMENTS - COVID-19 UPDATE.BARRATT - BETWEEN 23 MARCH 2020 AND 12 APRIL 2020, GROUP DELIVERED 1,349 HOME COMPLETIONS (INCLUDING JVS).BARRATT - GROUP HAS THEREFORE COMPLETED 11,713 HOMES (2019: 10,954 HOMES) IN PERIOD TO 12 APRIL 2020 (INCLUDING JVS)..BARRATT - REITERATE THAT ALL EXISTING FINANCIAL GUIDANCE IS SUSPENDED..BARRATT - CANCELLING INTERIM DIVIDEND OF 9.8 PENCE PER SHARE (C. £100M).BARRATT - EXPECT ANY FURTHER HOME COMPLETIONS AND RESERVATIONS TO BE VERY LIMITED..BARRATT - ARE IN PROCESS OF FURLOUGHING AROUND 85% OF OUR EMPLOYEES.BARRATT - WILL PAY FURLOUGHED EMPLOYEES THEIR NORMAL PAY WHILE THEY ARE FURLOUGHED UNTIL AT LEAST END OF MAY 2020..BARRATT - EXECUTIVE, NON-EXECUTIVE DIRECTORS, REGIONAL MANAGING DIRECTOR TEAM, CHAIRMAN AGREED TO VOLUNTARY 20% REDUCTION IN BASE SALARY AND FEES.  Full Article

Barratt Developments Says Group Is Suspending All Existing Financial Guidance
Wednesday, 25 Mar 2020 

March 25 (Reuters) - Barratt Developments PLC ::BARRATT DEVELOPMENTS - COVID-19 UPDATE.BARRATT - BOARD EXPECTS IT TO HAVE A SIGNIFICANT IMPACT ON BOTH CONSTRUCTION OUTPUT AND RESERVATIONS..BARRATT - TOOK DECISION TO CLOSE ALL OF OUR SALES CENTRES.BARRATT - POSTPONING ALL NON-ESSENTIAL CAPITAL EXPENDITURE.BARRATT - IT IS TOO EARLY TO MAKE A RELIABLE FORECAST ABOUT DURATION OR IMPACT OF PANDEMIC,.BARRATT - IT IS TOO EARLY TO MAKE A RELIABLE FORECAST ABOUT DURATION OR IMPACT OF PANDEMIC.BARRATT - BOARD BELIEVES IT IS APPROPRIATE TO CANCEL INTERIM DIVIDEND OF 9.8 PENCE PER SHARE.BARRATT - BELIEVES IT IS APPROPRIATE TO CANCEL INTERIM DIVIDEND OF 9.8 PENCE PER SHARE (C.£100M).BARRATT - STARTED CALENDAR YEAR WELL WITH GOOD CUSTOMER DEMAND FOR OUR HIGH QUALITY NEW HOMES.BARRATT - UNABLE TO QUANTIFY IMPACT OF COVID-19 ON OUR FINANCIAL AND TRADING PERFORMANCE AT THIS STAGE.BARRATT - GROUP IS SUSPENDING ALL EXISTING FINANCIAL GUIDANCE..  Full Article

Barratt Developments H1 Pretax Profit Rises 3.7 Percent
Wednesday, 5 Feb 2020 

Feb 5 (Reuters) - Barratt Developments PLC ::H1 PRETAX PROFIT ROSE 3.7 PERCENT TO 423 MILLION STG.OUTLOOK FOR FULL YEAR REMAINS IN LINE WITH BOARD'S EXPECTATIONS.BARRATT DEVELOPMENTS - TOTAL FORWARD SALES AS AT 2 FEBRUARY 2020 OF 13,043 HOMES AT A VALUE OF £3,027.1M (3 FEBRUARY 2019: £3,021.0M).BARRATT DEVELOPMENTS - HY REVENUE 2,266.2 MILLION STG VERSUS 2,132.0 MILLION STG.HY PROFIT BEFORE TAX 423.0 MILLION STG VERSUS 408.0 MILLION STG.ANTICIPATE CONTINUING GOVERNMENT SUPPORT FOR NEW-BUILD HOMES TO HELP ASPIRING HOMEBUYERS TO GET ONTO HOUSING LADDER..BARRATT - CONSERVATIVE PARTY MANIFESTO GOING INTO 2019 GENERAL ELECTION MADE CLEAR THAT HELP TO BUY TO CONTINUE IN ITS CURRENT FORM UNTIL MARCH 2021.CONTINUE TO EXPECT TO DELIVER AROUND 750 JV COMPLETIONS AND AROUND £30M OF JV PROFIT IN FY20..SPENT AROUND £450M ON LAND DURING HALF YEAR AND CONTINUE TO EXPECT TO INVEST C. £1.1BN ON LAND IN FY20..BASED ON CURRENT MARKET CONDITIONS, CO ON TRACK TO DELIVER 3-5% GROWTH IN WHOLLY OWNED COMPLETIONS IN FY20.ECONOMIC OUTLOOK IN MEDIUM TERM WILL DEPEND ON TRANSITION AND NATURE OF UK AND EU'S LONGER TERM RELATIONSHIP.BARRATT - FURTHER EXTENSION TO CAPITAL RETURN PLAN WITH PROPOSED SPECIAL RETURNS OF £175M IN NOV 2020 & NOV 2021.  Full Article

Housebuilder Barratt Sells More Homes In 15-Week Period, Order Book Healthy
Wednesday, 16 Oct 2019 

Oct 16 (Reuters) - Barratt Developments PLC ::AGM TRADING STATEMENT.STARTED OUR NEW FINANCIAL YEAR WELL, WITH A GOOD SALES RATE AND A HEALTHY FORWARD ORDER BOOK.WHILST THERE IS ECONOMIC AND POLITICAL UNCERTAINTY, WE CONTINUE TO BE DISCIPLINED AND HAVE A STRONG BALANCE SHEET AND CASH POSITION.BALANCE SHEET AND CASH POSITION PROVIDE US WITH RESILIENCE, FLEXIBILITY TO REACT TO POTENTIAL CHANGES IN ENVIRONMENT IN FY20 AND BEYOND.CONTINUE TO MAKE GOOD PROGRESS ON OUR MEDIUM TERM TARGETS.CONTINUE TO BUY LAND AT A MINIMUM OF 23% GROSS MARGIN AND TO EXPECT TO APPROVE BETWEEN 18,000-22,000 PLOTS FOR PURCHASE THIS YEAR.CONTINUE TO EXPECT TO GROW VOLUME TOWARDS LOWER END OF OUR MEDIUM TERM TARGET RANGE THIS YEAR.HOUSING MARKET FUNDAMENTALS REMAIN ATTRACTIVE, WITH LONG TERM UNDERSUPPLY OF NEW HOMES, STRONG GOVERNMENT. SUPPORT & POSITIVE LENDING ENVIRONMENT.RECOGNISE THAT ECONOMIC OUTLOOK WILL DEPEND ON FORM OF UK'S EU WITHDRAWAL IN MEDIUM TERM.IN PERIOD WE HAVE DELIVERED 3,252 (2019: 2,852) HOME COMPLETIONS (INCLUDING JVS), UP 14.0% ON LAST YEAR.FORWARD SALES (INCLUDING JVS) AS AT 13 OCT ARE STRONG, COMPRISING 12,963 HOMES (14 OCT 2018: 12,903 HOMES).  Full Article

Barratt Reports FY Pretax Profit Up 8.9% To 909.8 Mln Stg
Wednesday, 4 Sep 2019 

Sept 4 (Reuters) - Barratt Developments PLC ::FY PRETAX PROFIT ROSE 8.9 PERCENT TO 909.8 MILLION STG.FY REVENUE 4,763.1 MILLION STG VERSUS 4,874.8 MILLION STG AS REPORTED LAST YEAR.FY FINAL ORDINARY DIVIDEND PER SHARE OF 19.5P (2018: 17.9P) TOGETHER WITH 17.3P (2018: 17.3P) SPECIAL DIVIDEND PER SHARE.TOTAL FORWARD SALES AS AT 1 SEPTEMBER 2019 OF 12,911 HOMES (2 SEPTEMBER 2018: 12,648 HOMES).NET PRIVATE RESERVATIONS PER ACTIVE OUTLET PER AVERAGE WEEK FROM 1 JULY WERE 0.70 WITH PRIOR YEAR.BARRATT DEVELOPMENTS - FY OPERATING MARGIN 18.9% VERSUS 17.7%.BEGIN NEW FINANCIAL YEAR WITH A STRONG FORWARD ORDER BOOK.PREVAILING ECONOMIC AND POLITICAL BACKDROP FOR INDUSTRY IS POSITIVE.IN FY20 WE EXPECT TO RECEIVE BOTH LOWER MANAGEMENT FEES FROM OUR JOINT VENTURES AND LESS OTHER INCOME..BARRATT DEVELOPMENTS - IN FY20 EXPECTED UNDERLYING INFLATION OF C. 3%, WE EXPECT ADMINISTRATIVE EXPENSES FOR FY20 TO BE AROUND £195M.BASED ON CURRENT MARKET CONDITIONS, WE EXPECT TO GROW VOLUME TOWARDS LOWER END OF OUR MEDIUM TERM TARGET RANGE IN FY20.BARRATT DEVELOPMENTS - SALES ACROSS GROUP IN NEW FY TO DATE OF 0.70 NET PRIVATE RESERVATIONS PER ACTIVE OUTLET PER AVERAGE WEEK (FY19: 0.75).WELCOME EXTENSION OF HELP TO BUY UNTIL 2023, ALBEIT SUBJECT TO RESTRICTIONS FROM 2021 ONWARDS.  Full Article

Barratt Sees FY Pretax Profit Ahead Of Market Expectations
Wednesday, 10 Jul 2019 

July 10 (Reuters) - Barratt Developments PLC ::TRADING STATEMENT.FY PROFIT BEFORE TAX EXPECTED TO BE AHEAD OF MARKET EXPECTATIONS AT AROUND £910M (2018: £835.5M).IN FY 17,856 TOTAL HOMES COMPLETED INCLUDING JOINT VENTURES (2018: 17,579 HOMES).FY OPERATING MARGIN AT C. 18.9% (2018: 17.7%).FORWARD SALES POSITION WITH TOTAL FORWARD SALES (INCLUDING JVS) AS AT 30 JUNE 2019 OF £2,604.1M (30 JUNE 2018: £2,175.7M).SEES FY19 PERFORMANCE TO BE AHEAD OF CURRENT MARKET EXPECTATIONS DRIVEN BY CONTINUED IMPROVEMENTS FROM MARGIN INITIATIVES."WHILST THERE REMAINS SOME ECONOMIC AND POLITICAL UNCERTAINTY, GROUP IS IN A STRONG POSITION".BUILD COST INFLATION WAS 3-4% DURING FY19 AND WE ANTICIPATE A SIMILAR LEVEL OF INFLATION FOR FY20.HAS FIXED PRICE AGREEMENTS IN PLACE FOR OVER 90% OF THESE MATERIALS TO DECEMBER 2019 AND 60% FOR FY20.MADE GOOD PROGRESS IN STRATEGY TO EXIT CENTRAL LONDON AND FOCUS ON STRONG GROWTH OPPORTUNITIES THAT EXIST IN OUTER LONDON.  Full Article

UPDATE 3-UK watchdog investigates homebuilders over leasehold contracts

* Housing minister to legislate against high ground rents (Adds comment from Housing Secretary, updates share move)