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23 February 2018

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Barratt Homes Have Record Half Year

UK Connect share Barratt homes’ news of their record half-year

 

Recent scepticism over successes in the residential market in the face of Brexit has not prevented Barratt Homes from announcing a record first-half profits.

 
 
 

 

Britain’s largest house-builder has reported that its pre-tax profits had risen by nearly 7 percent to £342.7 million, on revenue of close to £2 billion, in the six months to December 31. It completed and sold 7,324 homes during the period, 2 percent up on the same time last year. It also said that it would pay another special dividend of £175 million in November 2019, matching the £175 million special dividends that it plans to pay out in November this year.

The Leicestershire based house-building giant annually delivers more than 3,000 homes more than its competitors, from 1 bedroom flats to 6 bedroom large family-size houses. A yearly number of 17,000 homes are constructed by Barratt.

Investors have been growing increasingly concerned that housebuilders are reaching the peak of what they can deliver in terms of profit growth. As a result, their shares have been volatile in recent months. Barratt’s shares hit a post-recession high of 682¾p last October, but have been falling since then. They rose 5¼p to 567½p yesterday.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
"With good consumer demand, a healthy forward order book and a robust balance sheet, overall we have had a strong first half and we continue to deliver against our operational and financial objectives."

David Thomas

CEO

Barratt Homes

News of healthy demand, an increase in profits and another special dividend payout will be a boost for Barratt and the wider housebuilding sector at a time when the residential market appears to be cooling, particularly in London.

UK Connect (previously Countrywide Telecoms) provides broadband connectivity and the latest technologies in telecommunication to the construction and home-building industry. For more client news visit our news page.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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