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.

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.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

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