Edition:
India

Barratt Scraps Special Dividend Proposal, FY Pretax Profit Down 45.9%


Wednesday, 2 Sep 2020 

Sept 2 (Reuters) - Barratt Developments PLC ::BARRATT DEVELOPMENTS - ANNUAL RESULTS FOR THE YEAR ENDED 30 JUNE 2020.FY PRETAX PROFIT 491.8 MILLION STG VERSUS 909.8 MILLION STG YEAR AGO.FY ADJUSTED OPERATING PROFIT 507.3 MILLION STG VERSUS 904.3 MILLION STG YEAR AGO.BARRATT - WHEN BOARD BELIEVES TIME IS RIGHT, IT WILL IMPLEMENT A DIVIDEND POLICY BASED ON A DIVIDEND COVER OF 2.5 TIMES..BARRATT - FORWARD SALES AS AT 23 AUGUST 2020 WITH 15,660 HOMES (25 AUGUST 2019: 13,064 HOMES) AND A VALUE OF £3,706.5M (25 AUGUST 2019: £3,037.5M).BARRATT - WHEN BOARD BELIEVES TIME IS RIGHT, IT WILL IMPLEMENT A DIVIDEND POLICY BASED ON A DIVIDEND COVER OF 2.5 TIMES..BARRATT - ALTHOUGH UNCERTAINTIES REMAIN, ALL OF OUR SITES ARE OPERATIONAL.BARRATT - ARE SEEING VERY STRONG CONSUMER DEMAND AND OUR ROBUST FINANCIAL POSITION MEANS WE ENTER NEW FINANCIAL YEAR WITH CAUTIOUS OPTIMISM.BARRATT - FY REVENUE 3,419.2 MILLION STG VERSUS 4,763.1 MILLION STG.BARRATT - FY TOTAL COMPLETIONS 12,604 VERSUS 17,856.BARRATT - WILL NO LONGER PROPOSE FY21 SPECIAL DIVIDEND OF £175M WHICH WOULD HAVE BEEN PAYABLE IN NOVEMBER 2021. 

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