Barratt Developments to resume divis in 2013
The description of house builder Barratt Developments as 'debt-laden' is set to become a thing of the past after a bumper year which saw profits saw and net debt almost halved.
The description of house builder Barratt Developments as 'debt-laden' is set to become a thing of the past after a bumper year which saw profits saw and net debt almost halved.
Group revenue in the year ended June 30th up by 14.1% to £2,323.4m, with completions well ahead at 12,637 units versus 11,078 completions the year before.
Full year profit before tax and exceptional items increased by 159.3% to £110.7m from £42.7m) the previous year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The group signalled its intention to pay a final dividend in respect of the current financial year, but there was no pay-out for the financial year just gone.
The market has pencilled in £2.32bn for revenue and £108.84m for profit before tax. Earnings per share (EPS) are expected to be around 8.27p, and the full-year divi 0.55p.
Net debt at 30th June 2012 almost halved from a year earlier to £167.7m.
More to follow ...
JH
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
CrowdStrike IT outage: a global meltdown
Millions were affected by the CrowdStrike IT outage recently, which grounded flights and took the news off the air. Was this just a hiccup or a warning of much worse to come?
By Simon Wilson Published
-
Revolut finally bags a UK banking licence – what's next for the fintech?
Revolut has finally been granted a UK banking licence following three years of negotiations with the regulator
By Kalpana Fitzpatrick Published