Barratt beats profit forecasts in the first half

House builder Barratt Developments swung into the blue in the first six months of the year and said that the second half has started strongly with a substantial increase in private reservations.

House builder Barratt Developments swung into the blue in the first six months of the year and said that the second half has started strongly with a substantial increase in private reservations.

Pre-tax profit in the first half ended December 31st jumped to £21.6m, compared with a loss of £4.6m the year before and well ahead of the £15m that Panmure Gordon was expecting. Earnings per share came in at 1.3p, up from a loss of 0.9p previously.

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