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BARRATT DEVELOPMENTS (BDEV)
BAYLIS
- 11 Aug 2008 12:39
nice starting point..
moneyplus
- 11 Aug 2008 15:29
- 2 of 430
all builders doing well today---I wonder if the gov have decided to help the builders with some good news!
BAYLIS
- 12 Aug 2008 20:23
- 3 of 430
yes, hope so.
hlyeo98 - 14 Aug 2008 15:14 - 4 of 430
BDEV is overvalued at 120p considering its landbanks are all tumbling.
dealerdear - 14 Aug 2008 15:56 - 5 of 430
Not necessarily. It is the 'in' share to trade, it has sorted it's capital requirements and there will probably be consolidation soon in the sector.
Very volatile though!
Very volatile though!
hlyeo98 - 14 Aug 2008 16:03 - 6 of 430
High inflation rates which are likely to rise further indicates banks will not be cutting interest rates in the near future. This would prompt the building sector to suffer more downtrend. BDEV and TW. are most likely casualties.
dealerdear - 14 Aug 2008 16:24 - 7 of 430
If the SM collapses then these will certainly go with it, probably leading.
For the moment though the short selling has basically stopped. Who can say in 3 mnths time. I'm only worried about tomorrow!
For the moment though the short selling has basically stopped. Who can say in 3 mnths time. I'm only worried about tomorrow!
mitzy - 26 Aug 2008 08:54 - 8 of 430
ateeq180 - 26 Aug 2008 11:03 - 9 of 430
all the builder share prices went up at the same time as taylor wimpey,so it shows if there is something sound for taylor wimpey i think it will have a big impact on the others,but a quick rebound was nice to see when most shares are down today.
ateeq180 - 28 Aug 2008 12:28 - 10 of 430
Broken the 140 barrier atlast,lets hope it goes north.
dealerdear - 05 Sep 2008 11:51 - 11 of 430
About the only stock you can trade atm by going long is TW. and BDEV.
Missed Barretts first thing through lack of courage but got it at 137p on the fall and just got out for a nice little earner. To say these markets are tough though is an understatement!
Missed Barretts first thing through lack of courage but got it at 137p on the fall and just got out for a nice little earner. To say these markets are tough though is an understatement!
ateeq180 - 05 Sep 2008 12:50 - 12 of 430
Results next week could be interesting.
dealerdear - 05 Sep 2008 13:01 - 13 of 430
They won't be pretty reading but the market has already discounted that. It's interesting that with the falls of recent days, the builders aren't been shorted apart for a brief period early morning. They look to me as though they have bottomed and are certainly trying to go up.
amardev
- 10 Sep 2008 14:59
- 14 of 430
Had hoped for a more positive reaction to the results.
RDW has done well after results yesterday.
Tomorrows another day.
Cheers
Amar
RDW has done well after results yesterday.
Tomorrows another day.
Cheers
Amar
dealerdear - 17 Sep 2008 08:31 - 15 of 430
Took the risk and went long on BDEV and TW. yesterday mid-day.
Thankfully Selftrade is working atm so sold into the rally. Nice something has gone right for a change!
Thankfully Selftrade is working atm so sold into the rally. Nice something has gone right for a change!
chibbert - 17 Sep 2008 13:13 - 16 of 430
140 PDQ!
dealerdear - 18 Sep 2008 08:55 - 17 of 430
Got in again yesterday and couldn't sell cause of Selftrades problems.
Just sold out on the rise to 133p. Only made 25 but no way in these mkts am I staying in.
Anyway, better than a slap in the face with a wet kipper.
Just sold out on the rise to 133p. Only made 25 but no way in these mkts am I staying in.
Anyway, better than a slap in the face with a wet kipper.
dealerdear - 18 Sep 2008 13:40 - 18 of 430
not bad! 100 in 5 mins. Ate a pot noodle, came back to the screen and BDEV had collapsed to 124p in auction. Just sold. I love it when it works like that especially when I've missed all the bank rallies thr' lack of trust.
ahoj
- 12 Dec 2008 10:26
- 19 of 430
Market cap 176M, sold lands for over 176M during last three weeks. Difficlut to estimate asset value, but it should be around 1750M to 3000M.
skinny
- 25 Feb 2009 08:32
- 20 of 430
BARRATT DEVELOPMENTS PLC
Results for the 6 months ended 31 December 2008
Highlights:
Completions for the half year were ahead of expectations at 6,905 (2007: 9,056), a decrease of 23.8%. Group revenue decreased by 23.7% to 1,261.8m (2007: 1,652.8m).
The average selling price decreased by 9.7% to 160,700 (2007: 178,000), reflecting a significant increase in the level of discounting, particularly in the last quarter, but also changes in site and product mix. On an underlying basis, excluding the effect of product mix changes, average selling prices have decreased by approximately 27% since June 2007.
The operating margin before exceptional costs decreased to 1.3% (2007: 16.6%). Operating profit before exceptional costs was 16.6m (2007: 274.9m). Exceptional costs totalled 512.4m and comprised 494.9m impairment of inventories and restructuring costs of 17.5m (2007: 7.2m).
The Group made a loss before tax and exceptional costs of 80.0m (2007: 201.8m profit), and a loss before tax after exceptional costs of 592.4m (2007: 194.6m profit).
Adjusted basic loss per share before exceptional costs was 15.6 pence (2007: 40.2 pence earnings). Basic loss per share was 123.0 pence (2007: 38.8 pence earnings).
Net debt has reduced by 315.7m since 31 December 2007 and 227.8m since 30 June 2008 to 1,422.8m (2007: 1,738.5m). The Group continues to operate within its banking facilities and debt covenants and has repaid, ahead of schedule, the 200m term loan facility due in April 2009.
Forward sales at 31 December 2008 were 456m (2007: 1,263m) representing 3,529 plots (2007: 7,498 plots). As at 15 February 2009 forward sales had increased to 633m, which taken with completions to date, means that we have secured around 80% of our full year requirement.
For the last 6 weeks we have delivered 0.47 private sales per site per week up 20.5% on the first half of the financial year and visitor levels at 1.99 per site per week are currently up 24.4% on the first half. These sales are being achieved at or above our new pricing levels.
We continue to make good progress in our cost reduction programmes and have identified additional build cost and overhead savings of c.80m per annum which we will realise in the next financial year.
Results for the 6 months ended 31 December 2008
Highlights:
Completions for the half year were ahead of expectations at 6,905 (2007: 9,056), a decrease of 23.8%. Group revenue decreased by 23.7% to 1,261.8m (2007: 1,652.8m).
The average selling price decreased by 9.7% to 160,700 (2007: 178,000), reflecting a significant increase in the level of discounting, particularly in the last quarter, but also changes in site and product mix. On an underlying basis, excluding the effect of product mix changes, average selling prices have decreased by approximately 27% since June 2007.
The operating margin before exceptional costs decreased to 1.3% (2007: 16.6%). Operating profit before exceptional costs was 16.6m (2007: 274.9m). Exceptional costs totalled 512.4m and comprised 494.9m impairment of inventories and restructuring costs of 17.5m (2007: 7.2m).
The Group made a loss before tax and exceptional costs of 80.0m (2007: 201.8m profit), and a loss before tax after exceptional costs of 592.4m (2007: 194.6m profit).
Adjusted basic loss per share before exceptional costs was 15.6 pence (2007: 40.2 pence earnings). Basic loss per share was 123.0 pence (2007: 38.8 pence earnings).
Net debt has reduced by 315.7m since 31 December 2007 and 227.8m since 30 June 2008 to 1,422.8m (2007: 1,738.5m). The Group continues to operate within its banking facilities and debt covenants and has repaid, ahead of schedule, the 200m term loan facility due in April 2009.
Forward sales at 31 December 2008 were 456m (2007: 1,263m) representing 3,529 plots (2007: 7,498 plots). As at 15 February 2009 forward sales had increased to 633m, which taken with completions to date, means that we have secured around 80% of our full year requirement.
For the last 6 weeks we have delivered 0.47 private sales per site per week up 20.5% on the first half of the financial year and visitor levels at 1.99 per site per week are currently up 24.4% on the first half. These sales are being achieved at or above our new pricing levels.
We continue to make good progress in our cost reduction programmes and have identified additional build cost and overhead savings of c.80m per annum which we will realise in the next financial year.
goldfinger
- 02 Jun 2009 15:12
- 21 of 430
Entered BDEV on this bullish Yank news just out....
http://www.realtor.org/press_room/news_releases/2009/06/phs_up
http://www.realtor.org/press_room/news_releases/2009/06/phs_up
goldfinger
- 03 Jun 2009 08:23
- 22 of 430
Good positive post by pro TAer Zak Mir on BDEV....
Zak Mir
Reged: 28/06/07
Posts: 844
Re: Barratt Developments (BDEV)
#447448 - 02/06/09 03:51 PM Edit Reply Quote
Having broken and closed above the April 177p high, it looks as though BDEV should go on to hit a line of resistance from that month at 240p. Only below the 10 day moving average at 165p endangers this scenario.
Zak Mir
Reged: 28/06/07
Posts: 844
Re: Barratt Developments (BDEV)
#447448 - 02/06/09 03:51 PM Edit Reply Quote
Having broken and closed above the April 177p high, it looks as though BDEV should go on to hit a line of resistance from that month at 240p. Only below the 10 day moving average at 165p endangers this scenario.
goldfinger
- 03 Jun 2009 10:38
- 23 of 430
From across the road apparently from investor inteligence....
Barratt Development did not disappoint. Its share price put on a 17p gain to reassert the uptrend. We anticipate more upside to come.
Overall, our strategy of chasing positive momentum is working now. We watch to add more positions, leveraging up on a rising trend.
Barratt Development did not disappoint. Its share price put on a 17p gain to reassert the uptrend. We anticipate more upside to come.
Overall, our strategy of chasing positive momentum is working now. We watch to add more positions, leveraging up on a rising trend.
goldfinger
- 03 Jun 2009 11:44
- 24 of 430
Just turned blue. ...nice.
MartinSC1 - 30 Jul 2009 11:13 - 25 of 430
Need a chart in a handy place,
wish I could catch all the movement,
trying hard, need some better indicators
cynic
- 03 Aug 2009 15:54
- 26 of 430
i think it's definitely time to start to look at housebuilders again ...... BDEV are an obvious choice, and RDW may be another ...... WOS may have already bolted too far
cynic
- 03 Aug 2009 15:58
- 27 of 430
somewhat to my surprise, WOS (green) is still the heavy laggard behind BDEV (blue) and RDW (red), though something strange happened in April to WOS ..... they may have split the stock (can't remember now) and the chart above has not compensated
kate bates - 04 Aug 2009 08:22 - 28 of 430
my god, knew cynic was clueless and didn't take long to find out why!! Bullish on housebuilders!! lol, head in sand job.
cynic
- 04 Aug 2009 08:28
- 29 of 430
because????
do you not reckon uk house sales are now starting to recover?
if so, you are categorically wrong.
is it premature to buy into uk housebuilders?
arguably, though probably not by much
are usa house sales starting to recover (relevant for WOS)?
just maybe, and if so, that will assuredly be of great benefit to WOS who have significant exposure there.
listen to what the market says, not kate barnes
do you not reckon uk house sales are now starting to recover?
if so, you are categorically wrong.
is it premature to buy into uk housebuilders?
arguably, though probably not by much
are usa house sales starting to recover (relevant for WOS)?
just maybe, and if so, that will assuredly be of great benefit to WOS who have significant exposure there.
listen to what the market says, not kate barnes
kate bates - 04 Aug 2009 09:10 - 30 of 430
twaddle, you are clueless old bean, thought u ran a business btw?? Seem to spend your life on here pretending you know about shares!! Not by any chance took the business like your portfolio into liquidation have we!!??
dealerdear - 04 Aug 2009 09:13 - 31 of 430
ouch!
kate bates - 04 Aug 2009 09:22 - 32 of 430
I've given you 2 shares, one has trebled one has doubled. What have you given?? WOS ! Only the banks keeping that one going!!
cynic
- 04 Aug 2009 09:22
- 33 of 430
what is "twaddle"?
what part of my post is inaccurate?
and no, both my/our business and, after many tribulations, my portfolio are in a very healthy and profitable state
what part of my post is inaccurate?
and no, both my/our business and, after many tribulations, my portfolio are in a very healthy and profitable state
kate bates - 04 Aug 2009 09:32 - 34 of 430
can't see how but the way you can 'spin' anything is possible!!
cynic
- 04 Aug 2009 09:58
- 35 of 430
if you are talking about housebuilders, not spin at all, but fact or reasonably expectation.
if you are talking about my/our biz, then i wouldn't expect you to know how we are so successful, albeit that we are only a medium-sized company, but then you have no idea what we do in any respect - or without respect as the case may be!
by the way, if you bought WOS back in April and continued to hold it, your profit would be very substantial indeed ..... the reverse is also true if you had held WOS for say the last 18/24 months, but that also applies to TMC, and indeed to great swathes of all sorts of shares
if you are talking about my/our biz, then i wouldn't expect you to know how we are so successful, albeit that we are only a medium-sized company, but then you have no idea what we do in any respect - or without respect as the case may be!
by the way, if you bought WOS back in April and continued to hold it, your profit would be very substantial indeed ..... the reverse is also true if you had held WOS for say the last 18/24 months, but that also applies to TMC, and indeed to great swathes of all sorts of shares
kate bates - 04 Aug 2009 10:10 - 36 of 430
I suppose you can be successful when you live in a fantasy world!
I think i have unearthed you as a charlatan/dreamer etc, mind you it was never going to be a tricky mission for me. Keep dreaming old bean and one day your dreams may come true..
I think i have unearthed you as a charlatan/dreamer etc, mind you it was never going to be a tricky mission for me. Keep dreaming old bean and one day your dreams may come true..
skinny
- 04 Aug 2009 10:12
- 37 of 430
Were you two once married to each other :-)
ptholden
- 04 Aug 2009 10:16
- 38 of 430
Kate
I'm not really sure why you feel it necessary to attack cynic on every thread. But for balance and fairness your assumptions couldn't be more wrong. Quite frankly your contiuous bitchiness is quite tiresome, why not just give it a rest?
I'm not really sure why you feel it necessary to attack cynic on every thread. But for balance and fairness your assumptions couldn't be more wrong. Quite frankly your contiuous bitchiness is quite tiresome, why not just give it a rest?
cynic
- 04 Aug 2009 10:18
- 39 of 430
can't even be bothered to use the squelch button on her
the silly tart thinks that by casting unwarranted aspersions makes the slightest difference to me ..... as i said, she hasn't even any idea what our business does
conversely, PTH does know!
the silly tart thinks that by casting unwarranted aspersions makes the slightest difference to me ..... as i said, she hasn't even any idea what our business does
conversely, PTH does know!
kate bates - 04 Aug 2009 14:19 - 40 of 430
thought you sold cleaning cloths door to door?
cynic
- 04 Aug 2009 14:23
- 41 of 430
life is full of surprises isn't it
cynic
- 06 Aug 2009 08:19
- 42 of 430
i don't see KB telling me that perhaps that wasn't such a bad thought of mine after all ...... shame i didn't follow my own gut feeling too, but as am travelling, prudence was wiser
for the record, both BDEV and WOS seem to have stormed away in the last couple of days
for the record, both BDEV and WOS seem to have stormed away in the last couple of days
cynic
- 11 Aug 2009 08:27
- 43 of 430
Savills (SVS)
i'm surprised there's no thread for this leading estate agent, so perhaps i should start one.
anyway, a mention here is scarcely out of place.
unequivocally the housing market is starting to recover.
up to now, i/we have only concentrated on housebuilders and associated companies (WOS), but of course estate agents are of course a key element in the process.
SVS sp has recovered sharply from its lows, but is still a long way off its highs (see chart below).
trading volumes are very variable, sometimes with just say 300k traded, and at other times, over 1m, as has happened today
EMS is 5000, so reasonably liquid
i'm surprised there's no thread for this leading estate agent, so perhaps i should start one.
anyway, a mention here is scarcely out of place.
unequivocally the housing market is starting to recover.
up to now, i/we have only concentrated on housebuilders and associated companies (WOS), but of course estate agents are of course a key element in the process.
SVS sp has recovered sharply from its lows, but is still a long way off its highs (see chart below).
trading volumes are very variable, sometimes with just say 300k traded, and at other times, over 1m, as has happened today
EMS is 5000, so reasonably liquid
cynic
- 20 Aug 2009 10:05
- 44 of 430
while admitting that the markets overall are performing strongly - still feels like something of an indian rope trick - it is good to report that
BDEV has recovered virtually all the ground it lost following rns re share placvement or similar to raise funds
RDW and SVS are both in the money
WOS, being the only one of the above where i did nothing, is also pretty much where it was
BDEV has recovered virtually all the ground it lost following rns re share placvement or similar to raise funds
RDW and SVS are both in the money
WOS, being the only one of the above where i did nothing, is also pretty much where it was
jimmy b
- 20 Aug 2009 10:17
- 45 of 430
I like TW. Looks like a nice upward trend...
cynic
- 20 Aug 2009 11:19
- 46 of 430
no reason to disagree ..... it just wasn't one that i contemplated, for no particular reason
jimmy b
- 20 Aug 2009 11:47
- 47 of 430
Keep an eye on it cynic ,it takes mini steps forward. I like BDEV and RDW also but havn't bought any yet.
cynic
- 21 Aug 2009 16:53
- 48 of 430
i know i should start a new thread, so sorry about that .....
RDW has been a star perfomer this week from my little batch of RDW, BDEV and WOS (didn't do those), but sp could now stall as chart indicates
RDW has been a star perfomer this week from my little batch of RDW, BDEV and WOS (didn't do those), but sp could now stall as chart indicates
jimmy b
- 21 Aug 2009 17:08
- 49 of 430
Yes start a new thread cynic ,i'm interested in all the house builders ,only in TW. at the moment but positive housing news from the US today i'm thinking they are all worth a look .
kimoldfield
- 21 Aug 2009 17:43
- 50 of 430
Redrow has resumed work on nearly all of the projects it mothballed here in Wales last year at the height of the recession, so it is looking good for the industry again.
cynic
- 21 Aug 2009 18:05
- 51 of 430
sorry guys, but too damn busy ..... economic recovery under way!
i almost just picked RDW out of the hat as one of the housebuilders which had been totally hammered over the last yeasr or so
i almost just picked RDW out of the hat as one of the housebuilders which had been totally hammered over the last yeasr or so
cynic
- 24 Aug 2009 12:42
- 52 of 430
where's that raddled tart KB? ...... amazing how quiet some vitriolic and noisy people get when they are shown to be wrong
jimmy b
- 25 Aug 2009 08:15
- 53 of 430
FT Comment
Bovis has joined Berkeley and Bellway in a select club: UK housebuilders with net cash. That is a good position to be in at a time when the opportunities for buying builders key material land are reckoned to be the best in a generation. Bovis is hobbled compared with the other two by the fact that its cash flow-based banking covenants restrict its ability to spend big, but renegotiation of these will start in the next few months. There are cheaper picks for investors among the housebuilders now Taylor Wimpey and Barratt Developments are priced at less than half the value of their net assets but in normal times housebuilders will sit at twice net asset value. Bovis is still only at 1.02.
Bovis has joined Berkeley and Bellway in a select club: UK housebuilders with net cash. That is a good position to be in at a time when the opportunities for buying builders key material land are reckoned to be the best in a generation. Bovis is hobbled compared with the other two by the fact that its cash flow-based banking covenants restrict its ability to spend big, but renegotiation of these will start in the next few months. There are cheaper picks for investors among the housebuilders now Taylor Wimpey and Barratt Developments are priced at less than half the value of their net assets but in normal times housebuilders will sit at twice net asset value. Bovis is still only at 1.02.
jimmy b
- 03 Sep 2009 11:14
- 54 of 430
All the housebuilders coming back strong today.
cynic
- 03 Sep 2009 21:23
- 55 of 430
see post 26 for chart - shall sleep on it, but think i may well be back in for a slice in the morning
skinny
- 23 Sep 2009 08:08
- 56 of 430
gekkko - 23 Sep 2009 09:51 - 57 of 430
these are gonna fly BUY BUY and BUY
Fred1new
- 23 Sep 2009 14:40
- 58 of 430
WHEN, WHEN, WHENNNNNNNNNNNN!
jimmy b
- 23 Sep 2009 14:44
- 59 of 430
Taylor Wimpy is turning ,,bit of a bear squeeze .
gekkko - 23 Sep 2009 16:58 - 60 of 430
see i told you so....
gekkko - 24 Sep 2009 11:15 - 61 of 430
these will fly BUY BUY and BUY
Matt7777 - 24 Sep 2009 13:14 - 62 of 430
why's that ?
the company seems to think this is a good time to issue a load of equity, but the debt levels remain high.... the rerating has been good, but is probably complete.
We're likely in the middle of a minor housing rebound, clearing the buyers who thought they'd missed out last time around. RICS survey is peaking out, the sector normally follows that...
the company seems to think this is a good time to issue a load of equity, but the debt levels remain high.... the rerating has been good, but is probably complete.
We're likely in the middle of a minor housing rebound, clearing the buyers who thought they'd missed out last time around. RICS survey is peaking out, the sector normally follows that...
cynic
- 24 Sep 2009 13:16
- 63 of 430
furthermore, at least one downdgrade this morning
goldfinger
- 24 Sep 2009 13:56
- 64 of 430
Thought I might find you here cyners sniffing for a short.
It does look a trifle overbought.
It does look a trifle overbought.
cynic
- 24 Sep 2009 14:09
- 65 of 430
generally speaking, i think it's a pretty brave man who shorts individual stocks at the moment, for though some consolidation is well overdue (so short FTSE if you like), the upward momentum remains.
furthermore, the housing market is definitely on a recovery track and BDEV in particular does not look to have a huge amount of immediate downside
furthermore, the housing market is definitely on a recovery track and BDEV in particular does not look to have a huge amount of immediate downside
goldfinger
- 24 Sep 2009 15:12
- 66 of 430
jesus, have you been taking elocution lessons??? (very unlike you that post above)
Seriously though I reckon were in for a mild correction in general and then a pick up in the last week of october when 3/4tr yank results start churning out.
Seriously though I reckon were in for a mild correction in general and then a pick up in the last week of october when 3/4tr yank results start churning out.
cynic
- 24 Sep 2009 15:15
- 67 of 430
btw, i see a number of institutions have been shorting here ..... any idea of what the diluted price works out at?
goldfinger
- 24 Sep 2009 16:34
- 68 of 430
Nope, no interest in this stock at the moment cyners, was just looking for you earlier on to get your take on the market in general.
Dumped it a while back as it was getting too volatile and I keep away from stock volatility.
Market volatility....... brilliant but stock volatility on a changing market........... no thanks.
Dumped it a while back as it was getting too volatile and I keep away from stock volatility.
Market volatility....... brilliant but stock volatility on a changing market........... no thanks.
HARRYCAT
- 25 Sep 2009 19:08
- 69 of 430
Business Financial Newswire
"Blackrock Investment Management has gone short of Barratt Development shares.
As of today (24th Sept), Blackrock holds a short position equivalent to 0.58% of Barratt issued share captial.
Yesterday Barratt announced a 175m placing at 240 per share and a 545.5m rights issue at a price of 100p per share.
By mid-afternoon, Barratt shares were trading at 264.8p- dowwn 10.9p on the day."
"Blackrock Investment Management has gone short of Barratt Development shares.
As of today (24th Sept), Blackrock holds a short position equivalent to 0.58% of Barratt issued share captial.
Yesterday Barratt announced a 175m placing at 240 per share and a 545.5m rights issue at a price of 100p per share.
By mid-afternoon, Barratt shares were trading at 264.8p- dowwn 10.9p on the day."
halifax - 26 Sep 2009 11:18 - 70 of 430
sp closed @247-248p.
HARRYCAT
- 02 Oct 2009 15:29
- 71 of 430
Business Financial Newswire
"House builder Barratt Developments has become a 'shorting' target for institutional fund mangers with Marshall Wace the latest to climb on the bandwagon.
As at 1 October 2009, Marshall Wace had a short position equivalent to 0.3% of the share capital of Barratt."
"GLG Partners has shorted Barratt Developments shares.
As at 1 October 2009 GLG held a short position equivalent of 0.25% of the issued share capital of the UK house builder."
"House builder Barratt Developments has become a 'shorting' target for institutional fund mangers with Marshall Wace the latest to climb on the bandwagon.
As at 1 October 2009, Marshall Wace had a short position equivalent to 0.3% of the share capital of Barratt."
"GLG Partners has shorted Barratt Developments shares.
As at 1 October 2009 GLG held a short position equivalent of 0.25% of the issued share capital of the UK house builder."
skinny
- 08 Oct 2009 16:19
- 72 of 430
You have to feel for the recent shorters!
skinny
- 23 Oct 2009 13:22
- 73 of 430
HARRYCAT
- 23 Oct 2009 14:14
- 74 of 430
Amazing. This yet again raises the old arguement of whether the sp should be down this low (fair valuation) or whether the shorters are forcing the sp down and therefore accentuating the decline (the more that short, the further it goes). Of course the stock has to be lent in the first place, so maybe just market forces at work?
I think I will stay out at present!
I think I will stay out at present!
skinny
- 23 Oct 2009 14:58
- 75 of 430
Fidelity joins Barratt shorting bandwagon
Barratt Developments share have been shorted by the world's larget fund manager, Fidelity International.
As at 22 October 2009, Fidelity held a short position equivalent to 0.27% of the issued share capital of Barratt Developments
Barratt Developments share have been shorted by the world's larget fund manager, Fidelity International.
As at 22 October 2009, Fidelity held a short position equivalent to 0.27% of the issued share capital of Barratt Developments
skinny
- 27 Oct 2009 15:59
- 76 of 430
Trafalagar Asset Managers is the latest fund management group to short Barratt Developments shares.
As at 26 October 2009, Traflagar held a short postion in the house builder's shares of 0.555% of the issued share capital.
HARRYCAT
- 27 Oct 2009 17:05
- 77 of 430
I am assuming it's part B which the hedge funds see as the reason to short?
"A o Placing of 72,916,666 Placing Shares at 240 pence per Placing Share,
representing a 10.6% discount to the Closing Price of 268.5 pence per
Existing Ordinary Share on 22 September 2009 (being the last practicable
day prior to the publication of this announcement) to raise gross proceeds of
175 million. The Placees will be Qualifying Shareholders for the purposes of
the Rights Issue.
B o 1.3 for 1 Rights Issue of 545,525,090 New Ordinary Shares at 100 pence per
New Ordinary Share, representing a 37.8% discount to the theoretical exrights
price, when calculated by reference to the Placing Price, to raise gross
proceeds of 545.5 million"
"A o Placing of 72,916,666 Placing Shares at 240 pence per Placing Share,
representing a 10.6% discount to the Closing Price of 268.5 pence per
Existing Ordinary Share on 22 September 2009 (being the last practicable
day prior to the publication of this announcement) to raise gross proceeds of
175 million. The Placees will be Qualifying Shareholders for the purposes of
the Rights Issue.
B o 1.3 for 1 Rights Issue of 545,525,090 New Ordinary Shares at 100 pence per
New Ordinary Share, representing a 37.8% discount to the theoretical exrights
price, when calculated by reference to the Placing Price, to raise gross
proceeds of 545.5 million"
Matt7777 - 27 Oct 2009 18:38 - 78 of 430
that, or the continued lack of mortgage finance availability, lack of improvement in consumer confidence, and likely topping out of the recent housing mini-bounce ?
skinny
- 29 Oct 2009 12:21
- 79 of 430
skinny
- 17 Nov 2009 07:57
- 80 of 430
skinny
- 11 Dec 2009 07:52
- 81 of 430
In accordance with the requirements of D.T.R. 3.1.2 Barratt Developments PLC
(the "Company") was notified on 10 December 2009 that, David Thomas, Group
Finance Director, acquired 25,000 ordinary shares (0.0026% of the Company's
issued share capital) in the Company at a price of GBP1.12 per share, in London,
on 10 December 2009.
Following the above purchase, David Thomas holds 96,000 ordinary shares of 10p
each in the Company representing 0.01% of the Company's issued share capital.
(the "Company") was notified on 10 December 2009 that, David Thomas, Group
Finance Director, acquired 25,000 ordinary shares (0.0026% of the Company's
issued share capital) in the Company at a price of GBP1.12 per share, in London,
on 10 December 2009.
Following the above purchase, David Thomas holds 96,000 ordinary shares of 10p
each in the Company representing 0.01% of the Company's issued share capital.
cynic
- 04 Jan 2010 16:14
- 82 of 430
below is a comparative chart which is pretty much self-explanatory
blue = BDEV
red = TW.
green = PAG (mortgage provider)
blue = BDEV
red = TW.
green = PAG (mortgage provider)
cynic
- 04 Jan 2010 16:18
- 83 of 430
i have actually gone for BDEV rather than TW. purely because sp is at an interesting chart point and because sp has arguably better upside potential.
i have also bought a few PAG on the basis that if houses start to sell, PAG will almost certainly benefit quite significantly
i have also bought a few PAG on the basis that if houses start to sell, PAG will almost certainly benefit quite significantly
skinny
- 14 Jan 2010 09:04
- 84 of 430
Trading Update
Highlights
Net private reservations per active site up 8.9% on prior year
First half completions in-line with expectations at 5,028
Total average selling prices increased by 4% to c. 167,000, largely driven by changes in mix
Total forward sales up 43% on prior year at 651.2m
Increased operating profitability in the first half
Better than expected net debt reduction to around 610m from 1,276.9m at 30 June 2009
Highlights
Net private reservations per active site up 8.9% on prior year
First half completions in-line with expectations at 5,028
Total average selling prices increased by 4% to c. 167,000, largely driven by changes in mix
Total forward sales up 43% on prior year at 651.2m
Increased operating profitability in the first half
Better than expected net debt reduction to around 610m from 1,276.9m at 30 June 2009
hlyeo98 - 12 Feb 2010 18:11 - 85 of 430
Good entry point at 110p.
ptholden
- 12 Feb 2010 20:59
- 86 of 430
Oddly enough, I just might disagree with both of you. I'll stick a chart up over the weekend.
cynic
- 12 Feb 2010 22:12
- 87 of 430
don't forget BDEV had a rights issue
ptholden
- 14 Feb 2010 22:19
- 88 of 430
A few thoughts for what it's worth:
In an uptrend since the low of 30p in Dec 08 (grey dotted line)
In a downtrend since the high of 193p in Nov 09 (red dotted/slash line)
Downtrend accelerating since Jan 14 2010 (red dotted/slash line)
MACD MAs making higher lows during the last 12 months, although still firmly in negative territory.
RSI bumping along 12 mongths lows, albeit in the shallowest of uptrends.
SP currently sitting on long term trendline support.
Horizontal SP support only 5p away.
50MA crossed below 200MA 10 Jan 2010.
So, what does all that lot indicate? If someone held a gun to my head I'd rather be short than long, but to be honest it's a really difficult call and I think there are much easier opportunities (either short or long) than messing around with BDEV.
Chris Carson
- 14 Feb 2010 22:53
- 89 of 430
ptholden - So what does all that indicate? Heard of Premium Bonds?
jkd - 14 Feb 2010 22:57 - 90 of 430
pth
i think you have summed it up very well. lets sit back and wait for those easier ones to materialise.they always do, eventually, as i am sure you know.
regards
jkd
i think you have summed it up very well. lets sit back and wait for those easier ones to materialise.they always do, eventually, as i am sure you know.
regards
jkd
ptholden
- 14 Feb 2010 23:26
- 91 of 430
CC
I think I was quite clear, from my perspective it's not worth investing in or trading at the moment. You go off and buy your Premium Bonds.
PS If you want investment advice, best you pay for it.
I think I was quite clear, from my perspective it's not worth investing in or trading at the moment. You go off and buy your Premium Bonds.
PS If you want investment advice, best you pay for it.
Chris Carson
- 14 Feb 2010 23:31
- 92 of 430
ptholden - Ok any other pearls of wisdom you would like to share, that are totally irrelevant and not worth investing in or trading at the moment?
ptholden
- 14 Feb 2010 23:38
- 93 of 430
CC - For your information, I was responding to comments made by Hyleo and Cynic re the merits of BDEV, ie, offering an opinion (FWIW) on a public financial BB (which is apparently the main purpose of such a forum).
Now if you don't agree or like what I post, the answers are quite simple; either squelch me or just fuck off, I don't really care which.
When you have something to offer, please let me know, I'll be all ears.
Now if you don't agree or like what I post, the answers are quite simple; either squelch me or just fuck off, I don't really care which.
When you have something to offer, please let me know, I'll be all ears.
Chris Carson
- 15 Feb 2010 01:06
- 94 of 430
ptholden - Charming - Hyleo and Cynic must be feeling really grateful to hear your wonderful opinion (verbal shite) (FWIW) re the merits of BDEV.
ptholden
- 15 Feb 2010 06:55
- 95 of 430
CC - Are you for real? You take a critical pop, dripping with sarcasm (I'm not a stranger to such myself) elicit a negative response and then you're surprised?
Good grief, I wonder why I bother.
BTW, if you ever feel you can offer something useful or informative to this BB, don't be shy ;)
Good grief, I wonder why I bother.
BTW, if you ever feel you can offer something useful or informative to this BB, don't be shy ;)
Chris Carson
- 15 Feb 2010 08:00
- 96 of 430
ptholden - I aplogise mate! Had one on me last night, didn't mean to take it out on you!
ptholden
- 15 Feb 2010 08:17
- 97 of 430
CC - Apology accepted, hope you have a better day today.
cynic
- 24 Feb 2010 07:23
- 98 of 430
figures look good to me - which means shares will get dumped out of perversity!
Matt7777 - 24 Feb 2010 09:40 - 99 of 430
I agree, numbers look ok - debt sl better than expected, order book and margins up slightly.... nothing new for the many shorters to jump on ?
More housebuilder results coming up, further "constructive" (!) comments confirming the slow turnaround should help.
NAV 210p, so unless more landbank -ve revals etc pretty cheap. Just the double dip to worry about then....
More housebuilder results coming up, further "constructive" (!) comments confirming the slow turnaround should help.
NAV 210p, so unless more landbank -ve revals etc pretty cheap. Just the double dip to worry about then....
tabasco - 24 Feb 2010 10:06 - 100 of 430
Just browsing at land prices and came across this prime plot of land in Grantham>
.
Size: 0.6 acre
Land Type: Residential Development
Planning Permission: Detailed Planning Permission
Description: This DPP is for 5 town houses over 2.5 floors in a conservation area in the town centre. The price includes an end terrace house with 6 double bedrooms. This is at the main entrance to the site.
Guide Price: 900,000
Now I have no further info about the Development but I would guess you would need to find a total of around 1.7-1.8ml to see the project throughand that is with good Merchants accounts.also a lot of pound notes sitting around from start to marketing and sell .plenty of work with time scales of completion from six months - ?.and marginscould be fu*k all
Now from a thickos point of view900,000 suggests that land is still not at a realistic price Barratts and other large house Builders with far larger projects have not written down their land banks sufficientlyI believe it was around billion BDEV last yearit is no coincidence that Builders Merchants are suffering big timewhich suggest to me a few more years of pain to large developers add to the fact they are continually finding it difficult to bankroll projects on any terms then end up virtually devalued on projected completion estimatesas opposed to the plus 10-20% increases they enjoyed in the past prompting sells at plan stage...I have not read their half year report and sector to swerve I fear!
.
Size: 0.6 acre
Land Type: Residential Development
Planning Permission: Detailed Planning Permission
Description: This DPP is for 5 town houses over 2.5 floors in a conservation area in the town centre. The price includes an end terrace house with 6 double bedrooms. This is at the main entrance to the site.
Guide Price: 900,000
Now I have no further info about the Development but I would guess you would need to find a total of around 1.7-1.8ml to see the project throughand that is with good Merchants accounts.also a lot of pound notes sitting around from start to marketing and sell .plenty of work with time scales of completion from six months - ?.and marginscould be fu*k all
Now from a thickos point of view900,000 suggests that land is still not at a realistic price Barratts and other large house Builders with far larger projects have not written down their land banks sufficientlyI believe it was around billion BDEV last yearit is no coincidence that Builders Merchants are suffering big timewhich suggest to me a few more years of pain to large developers add to the fact they are continually finding it difficult to bankroll projects on any terms then end up virtually devalued on projected completion estimatesas opposed to the plus 10-20% increases they enjoyed in the past prompting sells at plan stage...I have not read their half year report and sector to swerve I fear!
cynic
- 24 Feb 2010 10:35
- 101 of 430
prime plot in Grantham? ..... an oxymoron of the first order!
tabasco - 24 Feb 2010 10:39 - 102 of 430
Ok CynicIm sure you get my meaning.
Balerboy
- 24 Feb 2010 11:00
- 103 of 430
you do have a way with words cynic.......
tabasco - 24 Feb 2010 11:04 - 104 of 430
My fault Balershould have found a nice plot in Slough.then he could have left the oxy off.
cynic
- 24 Feb 2010 11:08
- 105 of 430
except they would have called it Farnham Common!
i take it you are not enamoured of housebuilders ..... i happen not to concur
i take it you are not enamoured of housebuilders ..... i happen not to concur
tabasco - 24 Feb 2010 11:22 - 106 of 430
Cynicnot at all true.I thank them dearly for building my houseI just believe they were caught out being a little greedyaccumulating large land banksnine times out of tenwith inviting backhandersand buying friends in Councils.they will be back in vogue.
tabasco - 24 Feb 2010 11:26 - 107 of 430
And let me make this crystal clearBarratts did not build my housejust trumping any funnies!.
HARRYCAT
- 24 Feb 2010 11:28
- 108 of 430
Broker note from Panmure Gordon today:
"We have upgraded our recommendation on Barratt from Hold to Buy following its interim results. While markets remain fragile, the group has clearly benefited from improving market conditions over the past few months and an ongoing focus on cost and efficiencies. Our target price has moved from 172p to 180p and reflects a 15% discount to our FY 2010E NAV of 210p."
"We have upgraded our recommendation on Barratt from Hold to Buy following its interim results. While markets remain fragile, the group has clearly benefited from improving market conditions over the past few months and an ongoing focus on cost and efficiencies. Our target price has moved from 172p to 180p and reflects a 15% discount to our FY 2010E NAV of 210p."
2517GEORGE
- 24 Feb 2010 14:35
- 109 of 430
I posted this on another thread 2 days ago.---'I struggle to understand broker recommendations, today Panmure Gordon have a hold rating on BDEV and a target price fully 50p above it's current level of 121p, why not a buy? I don't hold these or any hb's for that matter, I still feel there is more downside to come.'
2517
2517
HARRYCAT
- 10 Mar 2010 12:02
- 110 of 430
Broker note from Liberum:
"Barratt Developments (Buy, TP 162p) - Shares +5% on vague talk of interest from Persimmon. Extremely low quality rumour, in our view, - if Persimmon had a target in mind at all for later down the line, it would more likely be a smaller name (eg Bovis) or preferably a land deal via the banks, we would imagine, but as per management comments in the sales presentation here on Monday, the short-term priority for the group is further cash generation and focusing attention on opportunities in its strategic landbank."
"Barratt Developments (Buy, TP 162p) - Shares +5% on vague talk of interest from Persimmon. Extremely low quality rumour, in our view, - if Persimmon had a target in mind at all for later down the line, it would more likely be a smaller name (eg Bovis) or preferably a land deal via the banks, we would imagine, but as per management comments in the sales presentation here on Monday, the short-term priority for the group is further cash generation and focusing attention on opportunities in its strategic landbank."
goldfinger
- 26 Apr 2010 08:29
- 111 of 430
Investors Inteligence bullish on the housing sector....
Taylor Wimpey, for instance, rallied almost 10% last Friday on such optimisim. Mirroring the US homebuilding index, its share price looks like it could break out of the base, thus ending the great bear market.
In a similar vein, Barratt Development lies just above 100p and could easily move up 50p on momentum buying. Breaking the 200p level in this current upleg, however, is harder to say.
We add a long in Barratt and Berkerley.
Taylor Wimpey, for instance, rallied almost 10% last Friday on such optimisim. Mirroring the US homebuilding index, its share price looks like it could break out of the base, thus ending the great bear market.
In a similar vein, Barratt Development lies just above 100p and could easily move up 50p on momentum buying. Breaking the 200p level in this current upleg, however, is harder to say.
We add a long in Barratt and Berkerley.
hlyeo98 - 26 Apr 2010 13:05 - 112 of 430
140p is a resistance level.
skinny
- 26 Apr 2010 13:07
- 113 of 430
resistance is futile :-)
goldfinger
- 27 Apr 2010 00:27
- 114 of 430
Yep usually turns to support.
Bring it on.
Bring it on.
goldfinger
- 27 Apr 2010 08:11
- 115 of 430
Barratt Developments ST: above its upper Bollinger band
26 Apr 2010 - 09:19
Click here to see our chart:
http://www.tradingcentral.com/chart/BDEVGBp100426101746.gif
Our pivot point stands at 128.25.
Our preference: the upside prevails as long as 128.25 is support.
Alternative scenario: the downside breakout of 128.25 would call for 121.75
and 117.75.
Comment: the RSI is above its neutrality area at 50. The MACD is positive and
above its signal line. The configuration is positive. Moreover, the stock is
trading above both its 20 and 50 day MA (standing respectively at 125.63 and
122.32). Finally, Barratt Developments has crossed above its upper daily
Bollinger band (134.7).
Supports and resistances:
157.25 *
153 **
148.75
139.9 last
130.75
128.25 **
121.75 *
---
TRADING CENTRAL is a commentary service specialising in technical analysis.
For sales enquiries please call your Reuters account manager or TRADING
Central
by phone: New York (1) 212 812 2400 Ext 29, London +44 (0) 207 429 3980 or
hlyeo98 - 28 Apr 2010 09:52 - 116 of 430
Resistance is never futile...
goldfinger
- 29 Apr 2010 14:26
- 117 of 430
Broker slapped a Buy rating on it late Yesterday, missed it at the time......
Barratt Developments PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
28-04-10 BUY -38.50 -3.58 1.34 0.14
(hemscott premium)
Barratt Developments PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
28-04-10 BUY -38.50 -3.58 1.34 0.14
(hemscott premium)
goldfinger
- 29 Apr 2010 19:33
- 118 of 430
Lovely upgrade from Davy Stockbrokers forecasting EPS of 5.8p going into 2011, thats one heck of an upgrade and it will appeal as Panmure G upgraded yesterday aswell.
Barratt Developments PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Davy Stockbrokers
28-04-10 None -3.50 5.80
(hemscott premium)
Barratt Developments PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Davy Stockbrokers
28-04-10 None -3.50 5.80
(hemscott premium)
skinny
- 12 May 2010 07:08
- 119 of 430
Interim Mangement Statement.
Highlights
For the six months to 30 June 2010 average selling price is expected to increase by around 15% on the prior year equivalent period (at least 10% for the full financial year), largely due to mix changes
The Group is on track to deliver a profit (Note 1) for the second half (2009: 63.5m loss)
Net private reservations per active site for the IMS period up 4% on the prior year and up 14% on the first half
Total forward sales up 32% on prior year at 1,073.3m
Continuing to acquire land at attractive values, with terms agreed on 447.8m of land equating to 12,286 plots since mid 2009
Net debt as at 30 June 2010 is anticipated to be around 500m, below previous guidance due to the deferral of land payments
Highlights
For the six months to 30 June 2010 average selling price is expected to increase by around 15% on the prior year equivalent period (at least 10% for the full financial year), largely due to mix changes
The Group is on track to deliver a profit (Note 1) for the second half (2009: 63.5m loss)
Net private reservations per active site for the IMS period up 4% on the prior year and up 14% on the first half
Total forward sales up 32% on prior year at 1,073.3m
Continuing to acquire land at attractive values, with terms agreed on 447.8m of land equating to 12,286 plots since mid 2009
Net debt as at 30 June 2010 is anticipated to be around 500m, below previous guidance due to the deferral of land payments
Balerboy
- 12 May 2010 08:13
- 120 of 430
bought these and TW a week ago and at the mo wish I hadn't... going to be slow progress.
cynic
- 12 May 2010 09:02
- 121 of 430
bdev sp now hitting what could be a very difficult hurdle where 25+50 dma coincide
skinny
- 29 Jun 2010 14:20
- 122 of 430
Barratt Developments plc
Notice of Trading Update
Barratt Developments plc will be issuing a trading update for the full year
ended 30 June 2010, at 7am on Wednesday 14 July 2010.
Notice of Trading Update
Barratt Developments plc will be issuing a trading update for the full year
ended 30 June 2010, at 7am on Wednesday 14 July 2010.
cynic
- 29 Jun 2010 14:25
- 123 of 430
a comparsion chart ...... BDEV and TW. have follwed each other step for step, while RMV (green) has outperformed easily
skinny
- 14 Jul 2010 07:38
- 124 of 430
Trading Update.
Highlights
Total completions (Note 1) of 11,377 for the full year in-line with guidance, with 6,324 completions delivered in the second half
Average selling price up by c.11% for the full year to c. 174k and by c.18% in the second half on the prior year equivalent period, mainly due to changes in mix
Net private reservations up 4.2% for the full year at 0.50 per week per active site
Forward sales up by 27% to 591.7m as at 30 June 2010
Operating profit (Note 2) of at least 85m for the full year, ahead of expectations, resulting in a full year operating margin (Note 3) of at least 4%, and a second half operating margin of at least 5.5%
Net debt of c. 375m as at 30 June 2010, significantly lower than previous guidance
Highlights
Total completions (Note 1) of 11,377 for the full year in-line with guidance, with 6,324 completions delivered in the second half
Average selling price up by c.11% for the full year to c. 174k and by c.18% in the second half on the prior year equivalent period, mainly due to changes in mix
Net private reservations up 4.2% for the full year at 0.50 per week per active site
Forward sales up by 27% to 591.7m as at 30 June 2010
Operating profit (Note 2) of at least 85m for the full year, ahead of expectations, resulting in a full year operating margin (Note 3) of at least 4%, and a second half operating margin of at least 5.5%
Net debt of c. 375m as at 30 June 2010, significantly lower than previous guidance
skinny
- 08 Sep 2010 07:14
- 125 of 430
Final Results.
Highlights
Net private reservations up 4.2% for the full year at 0.50 per active site per week.
Total completions, including joint ventures, were 11,377 (2009: 13,277).
Average selling price (excluding joint ventures) up by 10.9% for the full year to 174,300 (2009: 157,200) and by 17.8% in the second half on the prior year equivalent period mainly due to changes in mix.
Profit from operations before operating exceptional items was 90.1m (2009: 34.2m) at a full year operating margin of 4.4% (2009: 1.5%), with the second half operating margin at 5.9% (2009: 1.8%).
Loss before tax and exceptional items of 33.0m (2009: 144.1m) with a profit before tax and exceptional items of 15.5m in the second half. Loss before tax for the year of 162.9m (2009: 678.9m).
Agreed terms on 527.2m of land purchases (equivalent to 13,359 plots) since re-entering the land market in mid-2009.
Net debt reduced by 910.0m since 30 June 2009 to 366.9m (2009: 1,276.9m).
Tangible net assets, excluding intangible assets, per share 208p (net assets per share 300p).
Forward sales at 30 June 2010 were up by 27% at 591.7m (2009: 464.3m) representing 3,889 plots (2009: 3,328 plots). At 5 September 2010 forward sales had increased to 847.1m (2009: 696.3m).
Over the 10 weeks since the financial year end net private reservations have averaged 0.48 per active site per week (2009: 0.51). Cancellation rates have remained low at an average of 11.0% (2009: 12.3%) for the year to date.
Highlights
Net private reservations up 4.2% for the full year at 0.50 per active site per week.
Total completions, including joint ventures, were 11,377 (2009: 13,277).
Average selling price (excluding joint ventures) up by 10.9% for the full year to 174,300 (2009: 157,200) and by 17.8% in the second half on the prior year equivalent period mainly due to changes in mix.
Profit from operations before operating exceptional items was 90.1m (2009: 34.2m) at a full year operating margin of 4.4% (2009: 1.5%), with the second half operating margin at 5.9% (2009: 1.8%).
Loss before tax and exceptional items of 33.0m (2009: 144.1m) with a profit before tax and exceptional items of 15.5m in the second half. Loss before tax for the year of 162.9m (2009: 678.9m).
Agreed terms on 527.2m of land purchases (equivalent to 13,359 plots) since re-entering the land market in mid-2009.
Net debt reduced by 910.0m since 30 June 2009 to 366.9m (2009: 1,276.9m).
Tangible net assets, excluding intangible assets, per share 208p (net assets per share 300p).
Forward sales at 30 June 2010 were up by 27% at 591.7m (2009: 464.3m) representing 3,889 plots (2009: 3,328 plots). At 5 September 2010 forward sales had increased to 847.1m (2009: 696.3m).
Over the 10 weeks since the financial year end net private reservations have averaged 0.48 per active site per week (2009: 0.51). Cancellation rates have remained low at an average of 11.0% (2009: 12.3%) for the year to date.
skinny
- 13 Oct 2010 14:19
- 126 of 430
Looking at 90p.
dealerdear - 13 Oct 2010 14:52 - 127 of 430
Nobody loves the builders and thats for sure!
rekirkham
- 13 Oct 2010 15:01
- 128 of 430
LOOKS LIKE A GOOD RECOVERY SITUATION TO ME -
NET TANGIBLE ASSETS PRESENTLY ABOUT 2 QUID A SHARE
SMALL CAPITALISATION, AND NOT EXCESSIVE DEBT NOW.
IF NOT FIRST TIME BUYERS, EXISTING HOME OWNERS ARE ALWAYS IN THE MARKET FOR A CHANGE OF HOUSE.
PROBABLY WORTH KEEPING AN EYE ON, ESPECIALLY IF THE ECONOMY DOES NOT WEAKEN FURTHER AND ALSO IN ANTICIPATION OF A POSSIBLE SPRING TIME IMPROVEMENT IN BUILDERS SHARE PRICES.
ALSO BROKERS TARGET PRICES MUCH HIGHER THAN CURRENT 90P
ANY COMMENTS - DO YOU AGREE OR DISAGREE ?
NET TANGIBLE ASSETS PRESENTLY ABOUT 2 QUID A SHARE
SMALL CAPITALISATION, AND NOT EXCESSIVE DEBT NOW.
IF NOT FIRST TIME BUYERS, EXISTING HOME OWNERS ARE ALWAYS IN THE MARKET FOR A CHANGE OF HOUSE.
PROBABLY WORTH KEEPING AN EYE ON, ESPECIALLY IF THE ECONOMY DOES NOT WEAKEN FURTHER AND ALSO IN ANTICIPATION OF A POSSIBLE SPRING TIME IMPROVEMENT IN BUILDERS SHARE PRICES.
ALSO BROKERS TARGET PRICES MUCH HIGHER THAN CURRENT 90P
ANY COMMENTS - DO YOU AGREE OR DISAGREE ?
dealerdear - 13 Oct 2010 16:12 - 129 of 430
I'll only get back in when I see genuine interest in the builders again which I guess won't happen till we know for sure that a double dip won't happen. As confidence returns then the builders will rise along with the housing market.
hlyeo98 - 13 Oct 2010 16:22 - 130 of 430
Deutsche Bank says it's not all doom and gloom as the sector is currently pricing in a double-dip in house pricing, that's a 13 per cent decline year-on-year. Unlikely. But through 2013 it expects housebuilders to show a rapid increase in profitability driven by the contribution of new higher margin developments.
Deutsche favours those companies that bought new development land at rock bottom prices. Indeed, Deutsche's pre-tax profit estimates for the sector remain 10 per cent to 15 per cent ahead of consensus 2011-12 forecasts and it sees upside in market expectations and strong value in the sector.
Deutsche favours those companies that bought new development land at rock bottom prices. Its top picks are Barratt Developments, 2.45p easier at 90.8p, Bovis Homes, 8.7p off at 363.7p, and Taylor Wimpey 0.63p cheaper at 26.05p.
Deutsche favours those companies that bought new development land at rock bottom prices. Indeed, Deutsche's pre-tax profit estimates for the sector remain 10 per cent to 15 per cent ahead of consensus 2011-12 forecasts and it sees upside in market expectations and strong value in the sector.
Deutsche favours those companies that bought new development land at rock bottom prices. Its top picks are Barratt Developments, 2.45p easier at 90.8p, Bovis Homes, 8.7p off at 363.7p, and Taylor Wimpey 0.63p cheaper at 26.05p.
skinny
- 13 Oct 2010 16:28
- 131 of 430
2013 is a long way (economically speaking) off. "Bought land at rock bottom prices" so prices can't go lower?
hlyeo98 - 13 Oct 2010 18:42 - 132 of 430
Lots of buys at end of day.
skinny
- 14 Oct 2010 15:20
- 133 of 430
rekirkham
- 20 Oct 2010 14:56
- 134 of 430
Todays budget talks of building more "social" housing. Perhaps Persimmon and Taylor Wimpey may be part of this essentially, but is not bad for the sector as a whole.
Now priced at 84.45 to buy. Will it drift any lower ?
Any ideas ?
Now priced at 84.45 to buy. Will it drift any lower ?
Any ideas ?
skinny
- 20 Oct 2010 15:04
- 135 of 430
I went short on Monday and see no reason to close.
kernow
- 20 Oct 2010 15:14
- 136 of 430
Adde a few more just now for the SIPP. Everybody seems to have forgotten the huge housebuilding targets set by the last Gov. and the need hasn't gone away even if the money, temporarily, has.
HARRYCAT
- 20 Oct 2010 15:18
- 137 of 430
More unemployment to come with a big cut in government jobs announced today. Certain areas are going to be badly hit, imo. More downside to come in the middle & lower housing sectors. Top end of the market (new build & existing) seems to be fairly resilient.
skinny
- 20 Oct 2010 15:41
- 138 of 430
UK Housing Industry Slams Government's Spending Cuts
Today : Wednesday 20 October 2010
The housing industry slammed planned spending cuts to social housing outlined by U.K. Chancellor George Osborne in his Comprehensive Spending Review Wednesday because it will limit the number of new low-cost homes built and cost tenants more to live in them.
Chancellor Osborne said the coalition government will build 150,000 affordable new homes over the next four years despite cutting the housing budget to GBP4.4 billion over the period from GBP8.4 billion over the previous three year period.
Osborne, who set out to tackle the U.K.'s mounting debt burden, laid out plans to cut the taxpayer funding of social housing.
The U.K. coalition government said that while rent levels and terms in social housing will remain unchanged, new tenants will be offered intermediate rents at around 80% of the market rate, which should help pay for building the 150,000 homes over the next four years.
The National Housing Federation slammed the decision to cut the affordable house building budget and said that charging "new social housing tenants up to 80% of the market rate could trap thousands of social housing tenants in a lifetime of poverty, provide a strong disincentive to work and increase dependency on benefits."
The NHF, which represents 1,200 not-for-profit housing associations, calculated that average social housing rents, currently at around GBP85 per week for a three-bedroom home, could triple to GBP250 a week.
The cuts come at a time when some 4.5 million people in England are currently waiting for a social home and the number of homes being built has slumped to its lowest level since the Second World War with just 113,000 built in 2009/10.
All the U.K.'s listed house builders are involved in building low-cost homes for government programs, even if it makes up a small part of their overall portfolio.
Shares of the U.K.'s largest house builders were little changed following the chancellor's speech. At 1230 GMT Persimmon PLC (PSN.LN) shares were down 3 pence, or 0.7%, to 3.67 pence, Taylor Wimpey PLC (TW.LN) fell 1 pence, or 2.3%, to 25 pence and Barratt Developments PLC (BDEV.LN) fell 2 pence, or 2.4%, to 86 pence.
"The housing industry has been preparing itself for the worst for some time, so while the cuts outlined today are not welcome, nor are they a surprise," said head of residential research at property consultancy CB Richard Ellis, Jennet Siebrits.
She added that "there is now an opportunity for the private sector to step in and provide suitable housing where it is most needed. The private rented sector will have a critical role to play."
Still, the cuts will increase the pain felt by first time buyers, who have been hit by the lack of mortgage finance in the recession, as it will close another avenue to own a home. First-time buyers, who are key to a recovery in the housing market, still have to meet tight lending criteria and high house prices.
The U.K. government also said it will give more power to local communities, which could hurt house builders. "This could result in poor planning decisions and/or the hi-jacking of the planning process by local pressure groups," said CBRE's head of national planning, Ian Anderson.
Today : Wednesday 20 October 2010
The housing industry slammed planned spending cuts to social housing outlined by U.K. Chancellor George Osborne in his Comprehensive Spending Review Wednesday because it will limit the number of new low-cost homes built and cost tenants more to live in them.
Chancellor Osborne said the coalition government will build 150,000 affordable new homes over the next four years despite cutting the housing budget to GBP4.4 billion over the period from GBP8.4 billion over the previous three year period.
Osborne, who set out to tackle the U.K.'s mounting debt burden, laid out plans to cut the taxpayer funding of social housing.
The U.K. coalition government said that while rent levels and terms in social housing will remain unchanged, new tenants will be offered intermediate rents at around 80% of the market rate, which should help pay for building the 150,000 homes over the next four years.
The National Housing Federation slammed the decision to cut the affordable house building budget and said that charging "new social housing tenants up to 80% of the market rate could trap thousands of social housing tenants in a lifetime of poverty, provide a strong disincentive to work and increase dependency on benefits."
The NHF, which represents 1,200 not-for-profit housing associations, calculated that average social housing rents, currently at around GBP85 per week for a three-bedroom home, could triple to GBP250 a week.
The cuts come at a time when some 4.5 million people in England are currently waiting for a social home and the number of homes being built has slumped to its lowest level since the Second World War with just 113,000 built in 2009/10.
All the U.K.'s listed house builders are involved in building low-cost homes for government programs, even if it makes up a small part of their overall portfolio.
Shares of the U.K.'s largest house builders were little changed following the chancellor's speech. At 1230 GMT Persimmon PLC (PSN.LN) shares were down 3 pence, or 0.7%, to 3.67 pence, Taylor Wimpey PLC (TW.LN) fell 1 pence, or 2.3%, to 25 pence and Barratt Developments PLC (BDEV.LN) fell 2 pence, or 2.4%, to 86 pence.
"The housing industry has been preparing itself for the worst for some time, so while the cuts outlined today are not welcome, nor are they a surprise," said head of residential research at property consultancy CB Richard Ellis, Jennet Siebrits.
She added that "there is now an opportunity for the private sector to step in and provide suitable housing where it is most needed. The private rented sector will have a critical role to play."
Still, the cuts will increase the pain felt by first time buyers, who have been hit by the lack of mortgage finance in the recession, as it will close another avenue to own a home. First-time buyers, who are key to a recovery in the housing market, still have to meet tight lending criteria and high house prices.
The U.K. government also said it will give more power to local communities, which could hurt house builders. "This could result in poor planning decisions and/or the hi-jacking of the planning process by local pressure groups," said CBRE's head of national planning, Ian Anderson.
skinny
- 20 Oct 2010 15:59
- 139 of 430
TW in auction.
skinny
- 21 Oct 2010 11:30
- 140 of 430
RNS Number : 7751U
Barratt Developments PLC
21 October 2010
NOTIFICATION OF DIRECTORATE CHANGE IN ACCORDANCE WITH LISTING RULES 9.6.14R and 9.6.11
Barratt Developments PLC (the "Company") announces that in light of his appointment as a Non-Executive Director and Chairman Designate of St. Modwen Properties PLC with effect from 1 November 2010, William Shannon has resigned as a non-executive director of the Company with immediate effect.
Barratt Developments PLC
21 October 2010
NOTIFICATION OF DIRECTORATE CHANGE IN ACCORDANCE WITH LISTING RULES 9.6.14R and 9.6.11
Barratt Developments PLC (the "Company") announces that in light of his appointment as a Non-Executive Director and Chairman Designate of St. Modwen Properties PLC with effect from 1 November 2010, William Shannon has resigned as a non-executive director of the Company with immediate effect.
skinny
- 22 Oct 2010 14:28
- 141 of 430
CREDIT SUISSE below 5%
skinny
- 17 Nov 2010 07:14
- 142 of 430
Interim Management Statement.
Highlights
Underlying selling prices remained stable during the period
Total average selling price ("ASP") on completions increased by c. 9% to 180,000, with private ASP increasing by c. 12% to 194,000, driven by changes in mix
Total completion revenues increased by c. 9%
Net private reservations per active site per week were down in the period at 0.45 (2009: 0.55), reflecting weaker customer sentiment
Total forward sales were in line with the prior year at 870.9m
Success in signing large scale partnership agreements
Highlights
Underlying selling prices remained stable during the period
Total average selling price ("ASP") on completions increased by c. 9% to 180,000, with private ASP increasing by c. 12% to 194,000, driven by changes in mix
Total completion revenues increased by c. 9%
Net private reservations per active site per week were down in the period at 0.45 (2009: 0.55), reflecting weaker customer sentiment
Total forward sales were in line with the prior year at 870.9m
Success in signing large scale partnership agreements
skinny
- 07 Dec 2010 11:10
- 143 of 430
closed my short today (for now).
kernow
- 07 Dec 2010 12:07
- 144 of 430
....for a profit? Cashed in few myself today but I'll be a buyer on any fall back.
skinny
- 07 Dec 2010 12:28
- 145 of 430
Yes I went short @90. I'm still long TW. (as posted previously)
skinny
- 09 Dec 2010 15:48
- 146 of 430
Reasonable volume.
3 monkies - 09 Dec 2010 17:26 - 147 of 430
Got a long way to go for me 1.44 I paid and my friend has even further 3.50 so it is a real ouch for us, hope we live long enough to retrieve our money.
hlyeo98 - 09 Dec 2010 18:47 - 148 of 430
This is the beginning of the climb.
mitzy - 09 Dec 2010 18:53 - 149 of 430
I believe so bro.
ptholden
- 09 Dec 2010 18:57
- 150 of 430
Pity you didn't point that out at 70p.
(Don't you get fed up having to keep logging in and out with your different aliases? Must be a real nuisance).
(Don't you get fed up having to keep logging in and out with your different aliases? Must be a real nuisance).
mitzy - 09 Dec 2010 18:58 - 151 of 430
Are you speaking to me..?
ptholden
- 09 Dec 2010 19:00
- 152 of 430
Two birds with one stone.
Take a look at the AVN thread, ta.
Take a look at the AVN thread, ta.
mitzy - 09 Dec 2010 19:01 - 153 of 430
I have.
ptholden
- 09 Dec 2010 19:02
- 154 of 430
Crack on then, won't take you long to switch logons back to Hlyeo.
mitzy - 09 Dec 2010 19:03 - 155 of 430
I dont hold.
ptholden
- 09 Dec 2010 19:11
- 156 of 430
Oh dear, poor you.
Don't worry about cracking a fingernail, I'll ask Ian.
Don't worry about cracking a fingernail, I'll ask Ian.
mitzy - 09 Dec 2010 19:13 - 157 of 430
Please do pat.
ptholden
- 09 Dec 2010 19:18
- 158 of 430
Good grief, you've blown your chance to make your first useful contribution to AM - gutted for you.
mitzy - 09 Dec 2010 20:06 - 159 of 430
Me or hlyeo..?
hlyeo98 - 10 Dec 2010 08:06 - 160 of 430
If it makes you happy, pat.
mitzy - 10 Dec 2010 08:33 - 161 of 430
lol.
skinny
- 12 Jan 2011 07:47
- 162 of 430
Trading Statement.
Highlights
Group revenues of c. 875m, in-line with prior year equivalent period, with total co mpletions of 4,832 units (Note 1)
Average selling price ("ASP") against the prior year equivalent period increased by c. 6% to 176k, with private ASP increasing by c. 11% to 192k, driven by changes in mix. Underlying selling prices remained stable during the period
Significant improvement in operating profit with operating margin increasing to around 5% in the period, up from 2.4% (Note 2) in the prior year equivalent period
Net debt lower than expectations at c. 540m, with full year guidance maintained at 400m to 450m
Forward sales as at 31 December 2010 in-line with the prior year at 645.7m
Highlights
Group revenues of c. 875m, in-line with prior year equivalent period, with total co mpletions of 4,832 units (Note 1)
Average selling price ("ASP") against the prior year equivalent period increased by c. 6% to 176k, with private ASP increasing by c. 11% to 192k, driven by changes in mix. Underlying selling prices remained stable during the period
Significant improvement in operating profit with operating margin increasing to around 5% in the period, up from 2.4% (Note 2) in the prior year equivalent period
Net debt lower than expectations at c. 540m, with full year guidance maintained at 400m to 450m
Forward sales as at 31 December 2010 in-line with the prior year at 645.7m
midknight
- 06 Apr 2011 11:16
- 163 of 430
BDEV Citigroup: downgraded to hold from buy, tp cut to 135 from 170
skinny
- 11 May 2011 13:31
- 164 of 430
Interim Management Statement.
Highlights
Sales rates have returned to more normal levels with net private reservations per active site per week during the period of 0.53 (2010: 0.56), significantly ahead of the first half (0.39)
We have continued to see an increase in private average selling prices, up by c. 4% on the prior year equivalent period due to changes in mix
We are on track to deliver a substantial improvement in operating profit (Note 1) in both the second half and the full financial year, driven by new higher margin sites and a continued focus on tight cost control
The Group has agreed its debt refinancing which provides around 1 billion of committed facilities to May 2015, and will reduce the effective cost of finance going forward
Highlights
Sales rates have returned to more normal levels with net private reservations per active site per week during the period of 0.53 (2010: 0.56), significantly ahead of the first half (0.39)
We have continued to see an increase in private average selling prices, up by c. 4% on the prior year equivalent period due to changes in mix
We are on track to deliver a substantial improvement in operating profit (Note 1) in both the second half and the full financial year, driven by new higher margin sites and a continued focus on tight cost control
The Group has agreed its debt refinancing which provides around 1 billion of committed facilities to May 2015, and will reduce the effective cost of finance going forward
midknight
- 12 May 2011 10:28
- 165 of 430
Questor in the Telegraph today:
http://www.telegraph.co.uk/finance/markets/questor/8507581/Questor-share-tip-Barratt-is-a-play-on-rising-margins.html
http://www.telegraph.co.uk/finance/markets/questor/8507581/Questor-share-tip-Barratt-is-a-play-on-rising-margins.html
midknight
- 19 May 2011 10:18
- 166 of 430
UBS [HB] : Reiterated buy - TP reiterated 135
midknight
- 27 May 2011 10:13
- 167 of 430
Deutsche: Reiterated buy - TP 152
midknight
- 02 Jun 2011 10:03
- 168 of 430
JPMorgan: Overweight - TP cut to 174 from 210
rococo - 21 Jun 2011 09:15 - 169 of 430
keep an eye
now at 109.20p, the shares have been left behind lately on the rise now, sector strong for the last couple days againts the market.
now at 109.20p, the shares have been left behind lately on the rise now, sector strong for the last couple days againts the market.
skinny
- 14 Jul 2011 07:08
- 170 of 430
Trading Update.
Highlights
Second half total completions in line with the prior year equivalent period, delivering total completions for the full year of 11,171 (2010: 11,377)
Increase in private average selling price of c. 5% in the second half to c. 204k (H2 2010: 195k), driven by changes in mix
Significant improvement in operating profitability with operating margin increasing to c. 7.8% (H2 2010: 5.9%) in the second half
The Group returns to profitability before tax and exceptional refinancing costs for the full year
Net debt of c. 330m (2010: 366.9m) at 30 June, lower than guidance
Refinancing package in place providing the Group with c. 1 billion of committed facilities for 4 years
Continuing to pursue joint venture and partnership opportunities and recently signed second major investment with London & Quadrant for a private residential development adjacent to Arsenal's Emirates stadium
Highlights
Second half total completions in line with the prior year equivalent period, delivering total completions for the full year of 11,171 (2010: 11,377)
Increase in private average selling price of c. 5% in the second half to c. 204k (H2 2010: 195k), driven by changes in mix
Significant improvement in operating profitability with operating margin increasing to c. 7.8% (H2 2010: 5.9%) in the second half
The Group returns to profitability before tax and exceptional refinancing costs for the full year
Net debt of c. 330m (2010: 366.9m) at 30 June, lower than guidance
Refinancing package in place providing the Group with c. 1 billion of committed facilities for 4 years
Continuing to pursue joint venture and partnership opportunities and recently signed second major investment with London & Quadrant for a private residential development adjacent to Arsenal's Emirates stadium
midknight
- 15 Jul 2011 11:36
- 171 of 430
Questor (Telegraph) today:
http://www.telegraph.co.uk/finance/markets/questor/8638604/Questor-share-tip-Barratts-margin-plan-is-built-on-strong-foundations.html
http://www.telegraph.co.uk/finance/markets/questor/8638604/Questor-share-tip-Barratts-margin-plan-is-built-on-strong-foundations.html
rococo - 15 Jul 2011 12:52 - 172 of 430
BDEV
from the TELEGRAPH - 7:00AM - 15 Jul 2011
Questor share tip: Barratt's margin plan is built on strong foundations
One the whole, yesterday's update from house builder Barratt Developments was good. However, the shares fell 6pc as the market fretted about the future. Questor thinks the falls were overdone.
Barratt Developments
105.9p -5.3
Questor says BUY
Barratt Developments
Barratt sold 1.8pc fewer homes in its last financial year, which ended in June, because it is focusing on business with good margins instead of volume. Indeed, in the second half of the year the operating margin increased to 7.8pc from 5.9pc in the second half of 2010.
The group sold 11,171 units over the year, with the average selling price for each property rising to 204,000, up from 195,000. It sees volumes rising 5pc to 10pc in the new financial year, based on improving trends in the second half. This will be the highest level for three years.
The company also expects to return to profitability (before exceptional items) this year, guiding to pre-tax profits of 40m. This is at the upper end of analysts' expectations, with current consensus shown in the graphic at 33m. Last year the group posted a loss of 33m, once exceptional items were stripped out.
This time there will also be exceptional costs of about 55m, mainly due to cost associated with a refinancing and the cancellation of interest rate swaps. This should push the headline figure into the red, but this has been known by the market for some time.
Net debt was 330m at the end of the year, which is lower than guidance. This means analysts will have to reduce the amount of expected interest payments in their models, which is a positive. The company has refinanced and has 1bn of committed facilities for four years.
The company also said that the Government's shared-equity scheme, called FirstBuy, was working.
However, the share-price reaction indicated that there are obviously some negatives. Firstly, the outlook statement appeared more cautious than its peers. Mark Clare, chief executive, said that trading conditions in some areas outside London and the South East were "challenging".
There was also no sign of the dividend being reinstated, but this was unlikely anyway.
However, as the forecasts show, at least some analysts had been hoping for a payout resumption.
There were also negative comments from Robin Hardy, an analyst at KBC Peel Hunt. "The risk is that Barratt's London exposure blinds investors to the wider risks of a national, volume house builder," he said. "It is now alone in having material debt, has no surplus assets to sell and is making 300 basis points less than its cost of capital, even by 2013. Exposure to London is not enough to counter that." He thinks that overbuild could be a risk in London and hit prices hard.
Of course there is no doubt that things are tough out there for all house builders. However, Questor still thinks the shares are fundamentally undervalued and yesterday's fall has created an opportunity. Mr Hardy's bearishness about London also seems excessive.
The shares are one of Questor's tips of 2011 and they are up 19pc this year compared with a FTSE 100 down 3pc. Trading on a June 2012 earnings multiple of 14, falling to 8.3 in 2013, the shares are a buy.
rococo - 15 Jul 2011 13:13 - 173 of 430
The Independent
Outlook
Barratt, the UK's largest house builder by volume, expects to announce it returned to the black over the year to the end of June.
Outlook
Barratt, the UK's largest house builder by volume, expects to announce it returned to the black over the year to the end of June.
hlyeo98 - 01 Aug 2011 16:07 - 174 of 430
Looking at a steep fall ahead.
hlyeo98 - 01 Aug 2011 16:07 - 175 of 430
skinny
- 14 Sep 2011 07:17
- 176 of 430
RNS Number : 2010O
Barratt Developments PLC
14 September 2011
14 September 2011
Barratt Developments PLC
Annual Results Announcement
for the year ended 30 June 2011
Mark Clare, Group Chief Executive commented:
"We have made considerable progress in rebuilding profitability - by optimising selling prices, improving operational efficiency and securing new higher margin land. Whilst we expect progress to continue, further recovery in the housing market remains dependent on improving economic conditions and the ability of our customers to secure mortgage finance."
Highlights
-- Total completions, including joint ventures, for the full year were 11,171 (2010: 11,377)
-- Private average selling price (excluding joint ventures) up 7.4% for the full year to GBP198,900 (2010: GBP185,200) due to active management of mix
-- Overall underlying selling prices were stable for the period, but with regional variations
-- 50% increase in operating profit before operating exceptional items to GBP135.0m (2010: GBP90.1m)(1) , with full year operating margin before operating exceptional items increasing to 6.6% (2010: 4.4%)
-- Second half housebuild operating margin(2) of 8.0% against 5.9% for the previous year
-- The Group returned to profit before exceptional costs for the full year(3) of GBP42.7m (2010: loss of GBP33.0m)
-- Refinancing package in place providing the Group with c. GBP1 billion of committed facilities and private placement notes, improving balance sheet efficiency
-- Net debt of GBP322.6m (2010: GBP366.9m) as at 30 June
-- Net tangible asset value per share of GBP2.11 (2010: GBP2.08 per share) at 30 June 2011(4)
-- For the first 11 weeks of our current financial year, we achieved average net private reservations of 183 per week, 10.2% above the same period last year. On a per active site basis this equates to a private sales rate of 0.49 (2010 equivalent period: 0.48)
(1) Profit from operations was GBP127.3m (2010: GBP74.3m) after operating exceptional items of GBP7.7m (2010: GBP15.8m)
(2) Housebuild margin is profit from operations before operating exceptional costs for the housebuilding segment divided by revenue for the housebuilding segment
(3) After exceptional costs of GBP54.2m (2010: GBP129.9m) the Group made a loss before tax for the year of GBP11.5m (2010: GBP162.9m)
(4) Net tangible asset value per share calculated as net assets, less intangible assets and goodwill, divided by number of allotted and issued ordinary shares
-ends -
Barratt Developments PLC
14 September 2011
14 September 2011
Barratt Developments PLC
Annual Results Announcement
for the year ended 30 June 2011
Mark Clare, Group Chief Executive commented:
"We have made considerable progress in rebuilding profitability - by optimising selling prices, improving operational efficiency and securing new higher margin land. Whilst we expect progress to continue, further recovery in the housing market remains dependent on improving economic conditions and the ability of our customers to secure mortgage finance."
Highlights
-- Total completions, including joint ventures, for the full year were 11,171 (2010: 11,377)
-- Private average selling price (excluding joint ventures) up 7.4% for the full year to GBP198,900 (2010: GBP185,200) due to active management of mix
-- Overall underlying selling prices were stable for the period, but with regional variations
-- 50% increase in operating profit before operating exceptional items to GBP135.0m (2010: GBP90.1m)(1) , with full year operating margin before operating exceptional items increasing to 6.6% (2010: 4.4%)
-- Second half housebuild operating margin(2) of 8.0% against 5.9% for the previous year
-- The Group returned to profit before exceptional costs for the full year(3) of GBP42.7m (2010: loss of GBP33.0m)
-- Refinancing package in place providing the Group with c. GBP1 billion of committed facilities and private placement notes, improving balance sheet efficiency
-- Net debt of GBP322.6m (2010: GBP366.9m) as at 30 June
-- Net tangible asset value per share of GBP2.11 (2010: GBP2.08 per share) at 30 June 2011(4)
-- For the first 11 weeks of our current financial year, we achieved average net private reservations of 183 per week, 10.2% above the same period last year. On a per active site basis this equates to a private sales rate of 0.49 (2010 equivalent period: 0.48)
(1) Profit from operations was GBP127.3m (2010: GBP74.3m) after operating exceptional items of GBP7.7m (2010: GBP15.8m)
(2) Housebuild margin is profit from operations before operating exceptional costs for the housebuilding segment divided by revenue for the housebuilding segment
(3) After exceptional costs of GBP54.2m (2010: GBP129.9m) the Group made a loss before tax for the year of GBP11.5m (2010: GBP162.9m)
(4) Net tangible asset value per share calculated as net assets, less intangible assets and goodwill, divided by number of allotted and issued ordinary shares
-ends -
goldfinger
- 21 Oct 2011 08:49
- 177 of 430
Latest Broker support for BDEV.... Hemscott premium.....
Barratt Developments PLC
FORECASTS 2012 2013
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
20-10-11 BUY 86.80 6.68 144.00 11.20 2.50
Arbuthnot Securities
20-10-11 BUY 75.00 5.70
Barratt Developments PLC
FORECASTS 2012 2013
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
20-10-11 BUY 86.80 6.68 144.00 11.20 2.50
Arbuthnot Securities
20-10-11 BUY 75.00 5.70
skinny
- 16 Nov 2011 08:02
- 178 of 430
Interim Management Statement.
Highlights
Average weekly net private reservations up 25.9% in the period due to an increased number of sites and an improved reservation rate per site
Private average selling price ("ASP") in the period increased by c. 7% compared to the prior year equivalent period to c. 207,000 as a result of changes in product mix and new site starts
New site openings from recently acquired higher margin land are expected to drive a significant improvement in profit before tax for the full year
Private forward sales up 27.4% on the prior year at 3,221 plots
Net debt as at 30 June 2012 expected to be at the lower end of our previous guidance at around 400m
Highlights
Average weekly net private reservations up 25.9% in the period due to an increased number of sites and an improved reservation rate per site
Private average selling price ("ASP") in the period increased by c. 7% compared to the prior year equivalent period to c. 207,000 as a result of changes in product mix and new site starts
New site openings from recently acquired higher margin land are expected to drive a significant improvement in profit before tax for the full year
Private forward sales up 27.4% on the prior year at 3,221 plots
Net debt as at 30 June 2012 expected to be at the lower end of our previous guidance at around 400m
skinny
- 16 Nov 2011 12:36
- 179 of 430
Just closed for a chunky +5 on the day.
dreamcatcher
- 17 Nov 2011 07:40
- 180 of 430
Questor share tip: All is on track for Barratt
.Garry White, 7:16, Thursday 17 November 2011
Yesterday's trading update from housebuilder Barratt Developments was reassuring, confirming that everything is on track.
Barratt Developments 90.45p +6.35 Questor says BUY
Of course, what the company really needs is for banks to start lending again to first-time buyers. But with this not looking imminent, the company has focused on building properties aimed at people further up the chain who hold more equity. This means it has built more large houses and fewer flats.
This, and the company's strong focus on the South East of the UK is the reason that the average selling price of the company's properties have risen 7pc to 207,000. The average weekly number of reservations for new homes has jumped 25.9pc since the start of the new financial year. This is partly down to the fact that the equivalent period of last year was so bad, due to investors being spooked by the comprehensive spending review in October 2010. Around 17 percentage points of this figure are caused by that bounce, with about 9 percentage points from new site openings.
Barratt has been buying cheaper land throughout the downturn, so the houses built on these new plots are higher margin.
Barratt does have debt unlike other housebuilders which should be about 400m by the end of the year. However, its larger than usual land bank means that sales over the next few years should bring this down significantly, and the balance sheet does not look overstretched.
The investment case remains intact. Cheaper land bought in the downturn is leading to higher profitability without any substantial rise in house prices. The UK remains structurally short of houses as the population continues to rise.
The shares are trading on a June 2012 earnings multiple of 14.3 falling to just 8.7 in 2013. The yield is 0.5pc, rising to 1.9pc.
The shares were named as a tip of the year at 88.65p but have been tipped as high as 188p in May. They are down 24pc from this high.
The shares remain a buy.
.Garry White, 7:16, Thursday 17 November 2011
Yesterday's trading update from housebuilder Barratt Developments was reassuring, confirming that everything is on track.
Barratt Developments 90.45p +6.35 Questor says BUY
Of course, what the company really needs is for banks to start lending again to first-time buyers. But with this not looking imminent, the company has focused on building properties aimed at people further up the chain who hold more equity. This means it has built more large houses and fewer flats.
This, and the company's strong focus on the South East of the UK is the reason that the average selling price of the company's properties have risen 7pc to 207,000. The average weekly number of reservations for new homes has jumped 25.9pc since the start of the new financial year. This is partly down to the fact that the equivalent period of last year was so bad, due to investors being spooked by the comprehensive spending review in October 2010. Around 17 percentage points of this figure are caused by that bounce, with about 9 percentage points from new site openings.
Barratt has been buying cheaper land throughout the downturn, so the houses built on these new plots are higher margin.
Barratt does have debt unlike other housebuilders which should be about 400m by the end of the year. However, its larger than usual land bank means that sales over the next few years should bring this down significantly, and the balance sheet does not look overstretched.
The investment case remains intact. Cheaper land bought in the downturn is leading to higher profitability without any substantial rise in house prices. The UK remains structurally short of houses as the population continues to rise.
The shares are trading on a June 2012 earnings multiple of 14.3 falling to just 8.7 in 2013. The yield is 0.5pc, rising to 1.9pc.
The shares were named as a tip of the year at 88.65p but have been tipped as high as 188p in May. They are down 24pc from this high.
The shares remain a buy.
skinny
- 17 Nov 2011 15:54
- 181 of 430
I don't think this is going to be a penny share for much longer.
cynic
- 17 Nov 2011 16:38
- 182 of 430
quite a brave call as industry prognostications are that the housing market, especially at the budget end, has further falls ahead
Balerboy
- 17 Nov 2011 19:24
- 183 of 430
Would like to see 1.40 again then be out i think.,.
3 monkies - 17 Nov 2011 19:41 - 184 of 430
Me to - think I would even go at a slight loss - been a long wait.
skinny
- 17 Nov 2011 20:56
- 185 of 430
I don't hold - but all things being equal (whatever that means atm) the share price has been fairly bullish of late - as ever, time will tell!
;MA(100)&IND=RSI(14);VOLMA(60)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
skinny
- 18 Nov 2011 16:30
- 186 of 430
Not quite - it peaked at 99.3.
HARRYCAT
- 21 Nov 2011 12:11
- 187 of 430
Note from Liberum Capital:
"News out of the FT over the weekend and today suggests that the government will shortly announce a MIG scheme for new housing. We await detail but this could be genuinely helpful as it could increase the supply of mortgage funding for new housing, by reducing risks to lenders. The volume players should be the main beneficiaries, and we reiterate our preference for Barratt, trading at 0.46x book v 0.8x for the sector.
Housing strategy to be unveiled today. The FT on Saturday (and today) carried a story that the government will unveil today a strategy to help the housebuilding industry. Three specific measures are mentioned: i) a MIG scheme for the new housebuilding industry; ii) funding for work in progress, and iii) bringing forward government land for housebuilding.
MIG genuinely helpful. Mortgage indemnity guarantee (MIG) schemes have been used in the past and are insurance schemes that pay out in the event of default. By paying 10-20% of the shortfall between the mortgage outstanding and resale value in the event of default, the scheme protects lenders from losses. This means that lenders risks are reduced and so, all else being equal, should be able to lend more to housing. From what has been written so far, it appears that the scheme will be funded by government and new housebuilders, as it will apply to new houses rather than all houses. This could be genuinely helpful as it should increase the supply of mortgages for new home buyers, by lowering the risk of mortgages, and so tying up less of banks capital, and should raise the demand for mortgages by increasing the LTV available to buyers.
Other measures. Bringing forward land could be helpful for industry volumes, but we believe that house building is constrained by mortgage availability rather than land, so this may not lead to greater supply of private housing. However, this land could be developed to provide affordable housing where waiting lists remain long. The other measure that has been hinted at is a repeat of the 2008/09 scheme to fund work in progress to bring forward development. However, current schemes tend to be houses rather than flats, with reduced work in progress requirements, so this may not be as helpful as it was in 2008/09.
Volume housebuilders most to gain. We believe that the volume builders (Barratt, Persimmon and Taylor Wimpey) have most to gain from an increase in mortgage supply and reiterate our preference for Barratt, which is trading at 0.46x Dec11E book value, compared to 0.8x for the sector."
"News out of the FT over the weekend and today suggests that the government will shortly announce a MIG scheme for new housing. We await detail but this could be genuinely helpful as it could increase the supply of mortgage funding for new housing, by reducing risks to lenders. The volume players should be the main beneficiaries, and we reiterate our preference for Barratt, trading at 0.46x book v 0.8x for the sector.
Housing strategy to be unveiled today. The FT on Saturday (and today) carried a story that the government will unveil today a strategy to help the housebuilding industry. Three specific measures are mentioned: i) a MIG scheme for the new housebuilding industry; ii) funding for work in progress, and iii) bringing forward government land for housebuilding.
MIG genuinely helpful. Mortgage indemnity guarantee (MIG) schemes have been used in the past and are insurance schemes that pay out in the event of default. By paying 10-20% of the shortfall between the mortgage outstanding and resale value in the event of default, the scheme protects lenders from losses. This means that lenders risks are reduced and so, all else being equal, should be able to lend more to housing. From what has been written so far, it appears that the scheme will be funded by government and new housebuilders, as it will apply to new houses rather than all houses. This could be genuinely helpful as it should increase the supply of mortgages for new home buyers, by lowering the risk of mortgages, and so tying up less of banks capital, and should raise the demand for mortgages by increasing the LTV available to buyers.
Other measures. Bringing forward land could be helpful for industry volumes, but we believe that house building is constrained by mortgage availability rather than land, so this may not lead to greater supply of private housing. However, this land could be developed to provide affordable housing where waiting lists remain long. The other measure that has been hinted at is a repeat of the 2008/09 scheme to fund work in progress to bring forward development. However, current schemes tend to be houses rather than flats, with reduced work in progress requirements, so this may not be as helpful as it was in 2008/09.
Volume housebuilders most to gain. We believe that the volume builders (Barratt, Persimmon and Taylor Wimpey) have most to gain from an increase in mortgage supply and reiterate our preference for Barratt, which is trading at 0.46x Dec11E book value, compared to 0.8x for the sector."
cynic
- 21 Nov 2011 13:41
- 188 of 430
bdev (blue) and tw. (red - pays yer money and takes yer choice
skinny
- 21 Nov 2011 14:16
- 189 of 430
I saw this on the BBC this morning, and I must confess - I thought it would give the builders a bit of a fillip today - hey ho!
skinny
- 29 Nov 2011 16:57
- 190 of 430
Finally got there today - 100.4.
3 monkies - 29 Nov 2011 17:39 - 191 of 430
Only got to go up another 44p for me, not holding my breath but nice to see it has hit the 1 mark, for how long who knows!!!
midknight
- 13 Dec 2011 15:21
- 192 of 430
13 December: Panmure Gordon: BDEV: Buy - TP: 158.00p - Reiteration
midknight
- 19 Dec 2011 15:39
- 193 of 430
19 December: Citigroup: Neutral - TP Down: from 110.00p to 104.00p
midknight
- 21 Dec 2011 10:54
- 194 of 430
21 December: BDEV Panmure Gordon: Reiterates Buy - TP: 158.00p
dreamcatcher
- 01 Jan 2012 19:13
- 195 of 430
Things have gone pretty much as expected for housebuilder Barratt Developments.
The share were recommended as a margin progression play, as the group sold houses on plots of land that it bought cheaply during the slump. The group's focus on the South East of England, which hasn't been hit as hard by the downturn, was also a supportive factor.
Questor's predictions duly came to pass and the group also managed to refinance its debt. This meant the shares hit 116p in May, before they were dragged down in the second half.
Although things do not look rosy in UK plc, meaning the housing market will remain sluggish for some time, structural shortage of housing in the country bodes well for the future. However, banks need to start lending again to first-time buyers for the shares to outperform.
The shares remain a buy.
The share were recommended as a margin progression play, as the group sold houses on plots of land that it bought cheaply during the slump. The group's focus on the South East of England, which hasn't been hit as hard by the downturn, was also a supportive factor.
Questor's predictions duly came to pass and the group also managed to refinance its debt. This meant the shares hit 116p in May, before they were dragged down in the second half.
Although things do not look rosy in UK plc, meaning the housing market will remain sluggish for some time, structural shortage of housing in the country bodes well for the future. However, banks need to start lending again to first-time buyers for the shares to outperform.
The shares remain a buy.
midknight
- 06 Jan 2012 10:12
- 196 of 430
BDEV: Northland Capital Partners reiterate Add - TP unchanged at 120p.
skinny
- 12 Jan 2012 07:06
- 197 of 430
Trading Statement.
Strong first half performance
Barratt Developments PLC (the "Company") is today issuing a trading update for the Company and its subsidiaries (the "Group") in respect of the six months to 31 December 2011 ("the period") ahead of its interim results announcement on 22 February 2012.
Highlights
-- Group revenues of c. GBP950m, an increase of c. 8% on the prior year equivalent period, with total completions of 5,198 units (Note 1)
-- Average selling price ("ASP") increased by c. 3% against the prior year equivalent period to GBP181k, with private ASP increasing by c. 4% to GBP200k, driven by further positive changes in mix
-- Group operating profit expected to be c. GBP61m, a c. 40% increase on the prior year equivalent period, with operating margin improving to c. 6.4% versus 5.0% in the prior year equivalent period
-- Recently acquired higher margin land continues to be brought into production and is expected to contribute more than a third of this financial year's completions
-- Net debt as at 31 December 2011 was lower than previous guidance at around GBP550m
-- Total forward sales as at 31 December 2011 up 8.1% on the prior year equivalent period at GBP698.1m, with private forward sales up 29.8% to GBP415.3m
Strong first half performance
Barratt Developments PLC (the "Company") is today issuing a trading update for the Company and its subsidiaries (the "Group") in respect of the six months to 31 December 2011 ("the period") ahead of its interim results announcement on 22 February 2012.
Highlights
-- Group revenues of c. GBP950m, an increase of c. 8% on the prior year equivalent period, with total completions of 5,198 units (Note 1)
-- Average selling price ("ASP") increased by c. 3% against the prior year equivalent period to GBP181k, with private ASP increasing by c. 4% to GBP200k, driven by further positive changes in mix
-- Group operating profit expected to be c. GBP61m, a c. 40% increase on the prior year equivalent period, with operating margin improving to c. 6.4% versus 5.0% in the prior year equivalent period
-- Recently acquired higher margin land continues to be brought into production and is expected to contribute more than a third of this financial year's completions
-- Net debt as at 31 December 2011 was lower than previous guidance at around GBP550m
-- Total forward sales as at 31 December 2011 up 8.1% on the prior year equivalent period at GBP698.1m, with private forward sales up 29.8% to GBP415.3m
skinny
- 12 Jan 2012 09:57
- 198 of 430
Once again - no longer a penny share.
;MA(50);MA(200)&IND=VOLMA(60);RSI(14)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
cynic
- 12 Jan 2012 12:06
- 199 of 430
got a few of these and may add
Balerboy
- 12 Jan 2012 12:06
- 200 of 430
You can have mine for 145p.,.
cynic
- 12 Jan 2012 12:08
- 201 of 430
thanks pal :-)
HARRYCAT
- 12 Jan 2012 12:21
- 202 of 430
Sold this morning. Will buy again on the next dip sub 95p.
skinny
- 12 Jan 2012 16:26
- 203 of 430
Just closed for +17
dreamcatcher
- 13 Jan 2012 17:46
- 204 of 430
..Questor share tip: Barratt starts the year in fine fettle
By Garry White | Telegraph – 3 hours ago
....
Share0EmailPrint......
Housebuilder Barratt Developments issued an upbeat interim update yesterday and said it had entered the second half of its year with a much stronger order book.
Barratt Developments 107.2p+10.2p Questor says BUY
In the six months to December 31, revenues rose 8pc to £950m after it completed a total of 5,198 units. The average selling price rose by 3pc to £181,000 and the company’s total orders are up 8.1pc compared with the same point last year. The order book for private housing is up by almost 30pc, but shared-equity deals remain a significant driver of business, as mortgage financing remains difficult to find.
Group operating profits were boosted by 40pc to £61m, with margins up to 6.4pc from 5pc.
The shares were recommended as a margin play as a tip of the year in 2011. They finished the year slightly ahead, but the share price has really taken off this year following a number of positive updates from other players in the sector.
The trend is for better-than-expected volumes. This is combined with improving margins due to the land bank the company bought at cheaper prices in the downturn to boost profitability.
Group net debt at the end of December was about £550m, which is lower than previous guidance of £620m.
The investment case remains intact. Cheaper land bought in the downturn is leading to higher profitability without any substantial rise in house prices.
The shares are trading on a June 2012 earnings multiple of 14.6, falling to just 9.3 in 2013.
The yield is 0.3pc, rising to 1.9pc.
The shares were first tipped on January 2, 2011 at 88.65p, but were also tipped as high as 118½p in May. They are down 10pc from this high. Buy.
..
By Garry White | Telegraph – 3 hours ago
....
Share0EmailPrint......
Housebuilder Barratt Developments issued an upbeat interim update yesterday and said it had entered the second half of its year with a much stronger order book.
Barratt Developments 107.2p+10.2p Questor says BUY
In the six months to December 31, revenues rose 8pc to £950m after it completed a total of 5,198 units. The average selling price rose by 3pc to £181,000 and the company’s total orders are up 8.1pc compared with the same point last year. The order book for private housing is up by almost 30pc, but shared-equity deals remain a significant driver of business, as mortgage financing remains difficult to find.
Group operating profits were boosted by 40pc to £61m, with margins up to 6.4pc from 5pc.
The shares were recommended as a margin play as a tip of the year in 2011. They finished the year slightly ahead, but the share price has really taken off this year following a number of positive updates from other players in the sector.
The trend is for better-than-expected volumes. This is combined with improving margins due to the land bank the company bought at cheaper prices in the downturn to boost profitability.
Group net debt at the end of December was about £550m, which is lower than previous guidance of £620m.
The investment case remains intact. Cheaper land bought in the downturn is leading to higher profitability without any substantial rise in house prices.
The shares are trading on a June 2012 earnings multiple of 14.6, falling to just 9.3 in 2013.
The yield is 0.3pc, rising to 1.9pc.
The shares were first tipped on January 2, 2011 at 88.65p, but were also tipped as high as 118½p in May. They are down 10pc from this high. Buy.
..
HARRYCAT
- 31 Jan 2012 14:20
- 205 of 430
Investec initiates buy on Barratt Developments, target price 180p.
Stan
- 31 Jan 2012 16:07
- 206 of 430
Oh really.. when's that then? -):
skinny
- 22 Feb 2012 07:26
- 207 of 430
Half Yearly Report.
Substantial increase in profits
Highlights:
· Revenues for the half year to 31 December 2011 increased by 8.6% to £952.8m (2010: £877.6m)
· Average selling price increased by 3.1% to £181,200 (2010: £175,800), with private average selling price increasing
by 4.2% to £199,900 (2010: £191,900) driven by further positive mix changes
· Profit from operations was £61.1m (2010: £43.5m), a 40.5% increase, with operating margin increasing to 6.4% (2010: 5.0%)
· Profit before tax of £21.6m (2010: loss before tax of £4.6m)
· Recently acquired higher margin land continues to be brought into production and is expected to contribute more than one third of this financial year's completions
· 98% (2010: 97%) of customers would recommend us to a friend
· Net debt as at 31 December 2011 was £542.2m (31 December 2010: £537.0m) and is forecast to be lower than previously expected at around £350m at 30 June 2012 (30 June 2011: £322.6m)
· Strong start to the second half with the Group delivering 246 (FY 2010/11 equivalent period: 202) private sales per week, up 21.8% in the seven weeks to 19 February driven by both an improved sales rate of 0.61 (FY 2010/11 equivalent period: 0.55) private sales per active site per week and new site openings. Overall underlying prices remain stable
· Private forward sales as at 19 February 2012 were up by 24.3% to £693.2m (20 February 2011: £557.9m)
· Second half gross margin and operating profit expected to increase from the prior year equivalent period
Substantial increase in profits
Highlights:
· Revenues for the half year to 31 December 2011 increased by 8.6% to £952.8m (2010: £877.6m)
· Average selling price increased by 3.1% to £181,200 (2010: £175,800), with private average selling price increasing
by 4.2% to £199,900 (2010: £191,900) driven by further positive mix changes
· Profit from operations was £61.1m (2010: £43.5m), a 40.5% increase, with operating margin increasing to 6.4% (2010: 5.0%)
· Profit before tax of £21.6m (2010: loss before tax of £4.6m)
· Recently acquired higher margin land continues to be brought into production and is expected to contribute more than one third of this financial year's completions
· 98% (2010: 97%) of customers would recommend us to a friend
· Net debt as at 31 December 2011 was £542.2m (31 December 2010: £537.0m) and is forecast to be lower than previously expected at around £350m at 30 June 2012 (30 June 2011: £322.6m)
· Strong start to the second half with the Group delivering 246 (FY 2010/11 equivalent period: 202) private sales per week, up 21.8% in the seven weeks to 19 February driven by both an improved sales rate of 0.61 (FY 2010/11 equivalent period: 0.55) private sales per active site per week and new site openings. Overall underlying prices remain stable
· Private forward sales as at 19 February 2012 were up by 24.3% to £693.2m (20 February 2011: £557.9m)
· Second half gross margin and operating profit expected to increase from the prior year equivalent period
midknight
- 24 Feb 2012 10:03
- 208 of 430
23 Feb: BDEV: UBS Reiterates: Buy - TP up from 140p to 170p.
3 monkies - 24 Feb 2012 10:09 - 209 of 430
Bring it on the sooner the better.
Balerboy
- 28 Feb 2012 08:23
- 210 of 430
Looking good this morning along with TW.
HARRYCAT
- 28 Feb 2012 08:24
- 211 of 430
Have a look at PSN then! That may be the reason for the whole lot going up!
Balerboy
- 28 Feb 2012 08:31
- 212 of 430
very nice hopeyou hold harry.,.
HARRYCAT
- 28 Feb 2012 08:33
- 213 of 430
I wish I did!....:o( Been thinking of house builders, but not convinced the sector was ready for investment yet. Poor decision!
midknight
- 12 Mar 2012 12:30
- 214 of 430
12 March - Citigroup downgrades BDEV to Sell but ups
TP from 112p to 130p.
TP from 112p to 130p.
Balerboy
- 12 Mar 2012 20:02
- 215 of 430
yet TW. seems to be holding up well.,.
mugged punter - 12 Mar 2012 21:15 - 216 of 430
Cameroon trying to ramp the housing market
http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/9137991/State-backed-mortgage-scheme-threatens-negative-equity.html
http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/9137991/State-backed-mortgage-scheme-threatens-negative-equity.html
Balerboy
- 13 Mar 2012 08:11
- 217 of 430
up on this one at 140+ and tw. 50p+ in profit on both.,.
midknight
- 13 Mar 2012 10:41
- 218 of 430
Baler: TW did stop its climb at 53 once again so you have a second chance to take 'some' profits and could buy back again. Ths sun might start shining again. Your call.
As far rises across the sector today:
http://www.thisismoney.co.uk/money/mortgageshome/article-2114280/RICS-House-sales-rise-price-falls-widespread-estate-agents-report.html
As far rises across the sector today:
http://www.thisismoney.co.uk/money/mortgageshome/article-2114280/RICS-House-sales-rise-price-falls-widespread-estate-agents-report.html
Balerboy
- 13 Mar 2012 20:14
- 219 of 430
oh yea of little faith.........
Balerboy
- 14 Mar 2012 08:43
- 220 of 430
150p+ bring it on.,.
midknight
- 15 Mar 2012 10:18
- 221 of 430
13 Narch:
Credit Suisse reiterates: Neutral - ups TP to 158p.
Deutsche Bank reiterates: Buy - ups TP from 153p to 203p.
Credit Suisse reiterates: Neutral - ups TP to 158p.
Deutsche Bank reiterates: Buy - ups TP from 153p to 203p.
Fred1new
- 15 Mar 2012 13:50
- 222 of 430
Is that a double top in BDEV chart.
ahoj
- 15 Mar 2012 13:51
- 223 of 430
180+
Balerboy
- 15 Mar 2012 19:32
- 224 of 430
lovely.,.
midknight
- 03 May 2012 11:34
- 225 of 430
3 May: BDEV : Panmure Gordon reiterates: Buy - 161p TP held.
skinny
- 03 May 2012 12:53
- 226 of 430
Investec retains it's Buy Tp 180p.
skinny
- 10 May 2012 07:10
- 227 of 430
Interim Management Statement.
Highlights
· Strong spring selling season with average weekly net private reservations up 25.3% against the prior year, driven by higher sales rates per site and increased site numbers
· Private average selling price ("ASP") on completions during the period up by c. 5% against the prior year to c. £202,000 reflecting continuing positive changes in mix
· Overall underlying prices continued to be stable, with greater robustness in London and the South East
· Value of private forward sales up 16.1% to £827.9m (2011: £713.2m)
· We expect to agree terms on c. 10,000 plots of higher margin land in the full financial year
· Reducing overall Group indebtedness remains a key objective, with net debt as at 30 June 2012 now expected to be £75m below previous guidance at around £275m (30 June 2011: £322.6m)
Highlights
· Strong spring selling season with average weekly net private reservations up 25.3% against the prior year, driven by higher sales rates per site and increased site numbers
· Private average selling price ("ASP") on completions during the period up by c. 5% against the prior year to c. £202,000 reflecting continuing positive changes in mix
· Overall underlying prices continued to be stable, with greater robustness in London and the South East
· Value of private forward sales up 16.1% to £827.9m (2011: £713.2m)
· We expect to agree terms on c. 10,000 plots of higher margin land in the full financial year
· Reducing overall Group indebtedness remains a key objective, with net debt as at 30 June 2012 now expected to be £75m below previous guidance at around £275m (30 June 2011: £322.6m)
skinny
- 11 Jul 2012 07:04
- 228 of 430
Trading Statement.
Highlights
· Group revenues up by c. 14% for the full year to c. £2,320m, with total completions of 12,637 units
· Group operating profit before exceptional items for the full year expected to be up by c. 41% at around £191m
· Operating margin expected to increase to c. 9.5% in the second half and c. 8.2% for the full year, up from 6.6% in the prior full year
· Full year profit before tax and exceptional items expected to increase by c. 158% to c. £110m
· Net debt almost halved against the prior year to c. £170m as at 30 June 2012, significantly lower than previous guidance
· Private forward sales up 34.6% to £378.4m as at 30 June 2012
Highlights
· Group revenues up by c. 14% for the full year to c. £2,320m, with total completions of 12,637 units
· Group operating profit before exceptional items for the full year expected to be up by c. 41% at around £191m
· Operating margin expected to increase to c. 9.5% in the second half and c. 8.2% for the full year, up from 6.6% in the prior full year
· Full year profit before tax and exceptional items expected to increase by c. 158% to c. £110m
· Net debt almost halved against the prior year to c. £170m as at 30 June 2012, significantly lower than previous guidance
· Private forward sales up 34.6% to £378.4m as at 30 June 2012
Balerboy
- 17 Aug 2012 17:23
- 229 of 430
on a roll at the mo.....how far..... limit sell at 155p......don't know.,.
Balerboy
- 20 Aug 2012 23:02
- 230 of 430
broken through the 150 barrier, have limit sell at 154 but may have to extend it.,.
Balerboy
- 21 Aug 2012 20:28
- 231 of 430
sold at 154p, wonder if it was right thing to do.,.
Balerboy
- 22 Aug 2012 09:13
- 232 of 430
feeling smug today.,.
skinny
- 22 Aug 2012 09:22
- 233 of 430
And why not ..
midknight
- 22 Aug 2012 09:33
- 234 of 430
BB, good show. A bird in the hand...
Balerboy
- 22 Aug 2012 10:07
- 235 of 430
set the same limit as you (midnight) for TW but didn't quite get there..... still we can go to the pub on the divy.,.
skinny
- 12 Sep 2012 07:03
- 236 of 430
Final Results
Highlights
· Group revenues up by 14.1% for the full year to £2,323.4m, with completions1 of 12,637 units (2011: 11,078)
· Average selling prices1 increased to £180,500 (2011: £178,300) with private average selling prices1 increasing by 1.5% to £201,800 (2011: £198,900)
· Group operating profit before exceptional items for the full year up by 41.6% to £191.1m (2011: £135.0m)2
· Operating margin3 increased to 9.5% in the second half and to 8.2% for the full year, up from 6.6% in the prior full year
· Full year profit before tax and exceptional items increased by 159.3% to £110.7m (2011: £42.7m)
· Net debt at 30 June 2012 almost halved to £167.7m
· Net tangible asset value per share £2.13 (2011: £2.11)4
· In the last nine weeks, average net private reservations per week per active site1 are in line with same period last year at 0.50 (2011: 0.50)
· Private forward sales1 up 15.3% to £609.6m as at 9 September 2012
· There will be no dividend for the year to 30 June 2012 but the Board expects to recommend to shareholders a final dividend in respect of the year to 30 June 2013
1 Excluding joint ventures
2 Profit from operations was £191.1m (2011: £135.0m) before operating exceptional items of £nil (2011: £7.7m)
3 Operating margin is profit from operations before operating exceptional costs divided by Group revenue
4 Net tangible asset value per share calculated as net assets, less intangible assets and goodwill, divided by number of allotted and issued ordinary shares
Highlights
· Group revenues up by 14.1% for the full year to £2,323.4m, with completions1 of 12,637 units (2011: 11,078)
· Average selling prices1 increased to £180,500 (2011: £178,300) with private average selling prices1 increasing by 1.5% to £201,800 (2011: £198,900)
· Group operating profit before exceptional items for the full year up by 41.6% to £191.1m (2011: £135.0m)2
· Operating margin3 increased to 9.5% in the second half and to 8.2% for the full year, up from 6.6% in the prior full year
· Full year profit before tax and exceptional items increased by 159.3% to £110.7m (2011: £42.7m)
· Net debt at 30 June 2012 almost halved to £167.7m
· Net tangible asset value per share £2.13 (2011: £2.11)4
· In the last nine weeks, average net private reservations per week per active site1 are in line with same period last year at 0.50 (2011: 0.50)
· Private forward sales1 up 15.3% to £609.6m as at 9 September 2012
· There will be no dividend for the year to 30 June 2012 but the Board expects to recommend to shareholders a final dividend in respect of the year to 30 June 2013
1 Excluding joint ventures
2 Profit from operations was £191.1m (2011: £135.0m) before operating exceptional items of £nil (2011: £7.7m)
3 Operating margin is profit from operations before operating exceptional costs divided by Group revenue
4 Net tangible asset value per share calculated as net assets, less intangible assets and goodwill, divided by number of allotted and issued ordinary shares
dreamcatcher
- 12 Sep 2012 15:51
- 237 of 430
Broker snap: Barratt's surge has further to go, says Panmure
Wed 12 Sep 2012
BDEV - Barratt Developments
Latest Prices
Name Price %
Barratt Developments 162.30p -4.36%
FTSE 250 11,815 +0.30%
FTSE 350 3,084 -0.12%
FTSE All-Share 3,018 -0.11%
Household Goods & Home Construction 7,482 -0.75%
LONDON (SHARECAST) - Panmure Gordon has reiterated its positive view of house-builder Barratt Developments in spite of the negative market reaction to the firm's preliminary results on Wednesday, saying that there's still plenty of upside to the stock.
Results were broadly in line with the broker's estimate following a detailed pre-close trading update in July. Pre-tax profits of £110.7m, up 159.3% year-on-year, was slightly above Panmure's £110.4m estimate. Meanwhile, net asset value (NAV) per share came in at 213p, compared with the 219p forecast.
Furthermore, the broker noted: "It appears that trading for the 2013 financial year has started soundly and the group should see further improvement in net margins as the percentage of new land increases."
Panmure said that it is fairly comfortable with its forecasts for the current year. It forecasts pre-tax profit to total £162.8m in the year to June 2013. While no dividend was declared for the prior year, the broker expects a payout of 2.5p in the coming year.
Barratt's shares are up over 85% since the start of the year.
"Although Barratt has had a significant increase in its share price since the start of the year, we still see plenty to go for with the stock on a PNAV [price-to-NAV] rating of 0.74x. We therefore maintain our 'buy' recommendation and 190p target price."
By 11:03, shares were down 6.48% at 158
Wed 12 Sep 2012
BDEV - Barratt Developments
Latest Prices
Name Price %
Barratt Developments 162.30p -4.36%
FTSE 250 11,815 +0.30%
FTSE 350 3,084 -0.12%
FTSE All-Share 3,018 -0.11%
Household Goods & Home Construction 7,482 -0.75%
LONDON (SHARECAST) - Panmure Gordon has reiterated its positive view of house-builder Barratt Developments in spite of the negative market reaction to the firm's preliminary results on Wednesday, saying that there's still plenty of upside to the stock.
Results were broadly in line with the broker's estimate following a detailed pre-close trading update in July. Pre-tax profits of £110.7m, up 159.3% year-on-year, was slightly above Panmure's £110.4m estimate. Meanwhile, net asset value (NAV) per share came in at 213p, compared with the 219p forecast.
Furthermore, the broker noted: "It appears that trading for the 2013 financial year has started soundly and the group should see further improvement in net margins as the percentage of new land increases."
Panmure said that it is fairly comfortable with its forecasts for the current year. It forecasts pre-tax profit to total £162.8m in the year to June 2013. While no dividend was declared for the prior year, the broker expects a payout of 2.5p in the coming year.
Barratt's shares are up over 85% since the start of the year.
"Although Barratt has had a significant increase in its share price since the start of the year, we still see plenty to go for with the stock on a PNAV [price-to-NAV] rating of 0.74x. We therefore maintain our 'buy' recommendation and 190p target price."
By 11:03, shares were down 6.48% at 158
dreamcatcher
- 02 Oct 2012 17:52
- 238 of 430
Who'd have thought a year ago that housebuilders would have more than doubled by now? That's what has happened to Barratt Developments , which put on 11% in September alone to end the month on 169.5p.
The big housebuilders bought up land while it was cheap during the recession, and now have nice land banks to build on. And with selling price for new homes starting to creep up, they're looking a lot healthier now. Barratt is on a P/E of nearly 14, which is abut the long-term FTSE average. But that's at a time when the housing market really is only just coming off its depths and mortgages are still hard to come by. What about another five years time? We could well be looking at a healthier market and decent dividends again -- and a significantly higher share price.
The big housebuilders bought up land while it was cheap during the recession, and now have nice land banks to build on. And with selling price for new homes starting to creep up, they're looking a lot healthier now. Barratt is on a P/E of nearly 14, which is abut the long-term FTSE average. But that's at a time when the housing market really is only just coming off its depths and mortgages are still hard to come by. What about another five years time? We could well be looking at a healthier market and decent dividends again -- and a significantly higher share price.
skinny
- 14 Nov 2012 07:54
- 239 of 430
Interim Management Statement
Highlights
· Net private reservations per site per week slightly up on the prior year at 0.54 (2012: 0.53)
· Stable underlying selling prices
· Increase in private forward sales of 21.1% to £768.5m (2012: £634.5m)
· We continue to secure land at attractive prices across the country with £226.8m (2012: £111.3m) of new higher margin land, equating to 29 (2012: 23) sites, approved in the period. Half of full year completions expected to come from newer higher margin land
· Reduction in overall indebtedness remains a key objective with target for zero net debt as at 30 June 2015. Net debt guidance for 31 Dec 2012 reduced to c. £400m, primarily reflecting the timing of land payments
Highlights
· Net private reservations per site per week slightly up on the prior year at 0.54 (2012: 0.53)
· Stable underlying selling prices
· Increase in private forward sales of 21.1% to £768.5m (2012: £634.5m)
· We continue to secure land at attractive prices across the country with £226.8m (2012: £111.3m) of new higher margin land, equating to 29 (2012: 23) sites, approved in the period. Half of full year completions expected to come from newer higher margin land
· Reduction in overall indebtedness remains a key objective with target for zero net debt as at 30 June 2015. Net debt guidance for 31 Dec 2012 reduced to c. £400m, primarily reflecting the timing of land payments
midknight
- 29 Nov 2012 12:59
- 240 of 430
29 Nov: HSBC: Overweight and TP up from 170p to 241p.
HARRYCAT
- 08 Jan 2013 14:48
- 241 of 430
Analysts at Deutsche Bank have today delivered a glowing review of the prospects for the UK’s homebuilders, in turn raising their price targets on all of the companies within their universe.
Thus, they explain that, “through 2012 the UK house builder sector re-rated, moving from 0.69 times 2012 Net Tangible Asset Value (NTAV) to 1.0 times 2013 NTAV. However, as the sector reaches returns that cover its cost of capital in 2013, moving to mid teen levels by 2014/2015, we believe a further rerating is available. A sector creating mid teen return on capital employed (ROCE) on a sustainable basis (the upside being based on self-help measures rather than any housing market pick-up) we believe deserves to trade at a 20% premium to its NTAV (mid-range of its 2000-2005 valuation range).”
Its analysts have raised their price target on Barratt Developments to 278p (from 224p), on Bovis to 667p (from 599p) and on Berkeley Group to 1,941 (from 1,925).
Thus, they explain that, “through 2012 the UK house builder sector re-rated, moving from 0.69 times 2012 Net Tangible Asset Value (NTAV) to 1.0 times 2013 NTAV. However, as the sector reaches returns that cover its cost of capital in 2013, moving to mid teen levels by 2014/2015, we believe a further rerating is available. A sector creating mid teen return on capital employed (ROCE) on a sustainable basis (the upside being based on self-help measures rather than any housing market pick-up) we believe deserves to trade at a 20% premium to its NTAV (mid-range of its 2000-2005 valuation range).”
Its analysts have raised their price target on Barratt Developments to 278p (from 224p), on Bovis to 667p (from 599p) and on Berkeley Group to 1,941 (from 1,925).
goldfinger
- 09 Jan 2013 08:49
- 242 of 430
BDEV Barrat Developments.
Gone long on BDEV already hold TW.
Full broker note here from Deutsche.......
European Daily Focus
Deutsche Bank AG/London Page 3
UK HOUSEBUILDERS Outlook 2013 - remaining positive but being selective
Our top picks remain for Barratt, Berkeley and Bovis.
Despite expectations of constrained economic and mortgage activity in 2013, we believe the pull-through of higher
margin new land should sustain upwards momentum in consensus ests. Market share gains and govt support offer
upside to volumes which could supplement this further. Given the strong performance of the UK housebuilders in the
past 12 months the obvious valuation gap in the sector has closed. However with the sector anticipated to achieve
mid teens ROCE by 2014/5 we believe a further re-rating is available. We remain positive on the housebuilders,
although we would look to be selective in our stock selections. Top picks: Barratt, Berkeley and Bovis.
DB ests upgraded by 0-20%, now top end of consensus.
Through 2012 the UK housebuilders saw double digit percentage increases in consensus PBT forecasts. However
with the future years not yet adequately reflecting the increasing contribution of the higher margin new land we have
increased our forecast PBT 2013-15 by a further 0-20%. The largest of these upgrades were at Barratt, Bovis and
Taylor Wimpey, however it is in our most favoured names – Barratt, Berkeley and Bovis where our forecasts are
approx 15-20% ahead of consensus. Our forecasts are currently based on only a 2% increase in selling rates. Any
upside in mortgage lending or greater market share gains would suggest further upgrades could be available.
Moving our price targets, still more to go for
Through 2012 the UK housebuilder sector re-rated, moving from 0.69x 2012 NTAV to 1.0x 2013 NTAV. However as
the sector reaches returns that cover its cost of capital in 2013 moving to mid teen levels by 2014/15 we believe a
further rerating is available. A sector creating mid teen ROCE on a sustainable basis (the upside being based on self
help measures rather than any housing market pick-up) we believe deserves to trade at a 20% premium to its NTAV
(mid range of its 2000-2005 valuation range).
Still 15-30% upside in share prices available without housing market recovery
Given the strong share price performances through the past 12 months, the upside to our price targets in 2013 lack
the massive scale seen in the previous 2 years. However in focusing on those stocks offering the greatest scope for
positive surprise in forecasts and where valuation re-rating remains possible we believe at least 15-30% share price
performance could be available (based on a stable economic and mortgage outlook). Our top picks are Barratt
(significant P&L leverage to new land, faster than expected debt paydown, strong turnaround in ROCE, 10% discount
to NTAV), Bovis (strong growth story with volumes, price and margins all offering scope for upside, a fast turnaround
in ROCE, 10% discount to NTAV) and Berkeley Group (strong pick up in the selling prices and margins from its new
London developments with potential for larger cash returns in the medium term). Barratt would be our preference in a
scenario of higher volumes.
Risks
Risks to the sector include the availability and affordability of mortgages, interest rate, unemployment rate and
consumer confidence, government funding and policy on planning, the timing and profitability of new land, changes
in raw material and labour pricing.
Gone long on BDEV already hold TW.
Full broker note here from Deutsche.......
European Daily Focus
Deutsche Bank AG/London Page 3
UK HOUSEBUILDERS Outlook 2013 - remaining positive but being selective
Our top picks remain for Barratt, Berkeley and Bovis.
Despite expectations of constrained economic and mortgage activity in 2013, we believe the pull-through of higher
margin new land should sustain upwards momentum in consensus ests. Market share gains and govt support offer
upside to volumes which could supplement this further. Given the strong performance of the UK housebuilders in the
past 12 months the obvious valuation gap in the sector has closed. However with the sector anticipated to achieve
mid teens ROCE by 2014/5 we believe a further re-rating is available. We remain positive on the housebuilders,
although we would look to be selective in our stock selections. Top picks: Barratt, Berkeley and Bovis.
DB ests upgraded by 0-20%, now top end of consensus.
Through 2012 the UK housebuilders saw double digit percentage increases in consensus PBT forecasts. However
with the future years not yet adequately reflecting the increasing contribution of the higher margin new land we have
increased our forecast PBT 2013-15 by a further 0-20%. The largest of these upgrades were at Barratt, Bovis and
Taylor Wimpey, however it is in our most favoured names – Barratt, Berkeley and Bovis where our forecasts are
approx 15-20% ahead of consensus. Our forecasts are currently based on only a 2% increase in selling rates. Any
upside in mortgage lending or greater market share gains would suggest further upgrades could be available.
Moving our price targets, still more to go for
Through 2012 the UK housebuilder sector re-rated, moving from 0.69x 2012 NTAV to 1.0x 2013 NTAV. However as
the sector reaches returns that cover its cost of capital in 2013 moving to mid teen levels by 2014/15 we believe a
further rerating is available. A sector creating mid teen ROCE on a sustainable basis (the upside being based on self
help measures rather than any housing market pick-up) we believe deserves to trade at a 20% premium to its NTAV
(mid range of its 2000-2005 valuation range).
Still 15-30% upside in share prices available without housing market recovery
Given the strong share price performances through the past 12 months, the upside to our price targets in 2013 lack
the massive scale seen in the previous 2 years. However in focusing on those stocks offering the greatest scope for
positive surprise in forecasts and where valuation re-rating remains possible we believe at least 15-30% share price
performance could be available (based on a stable economic and mortgage outlook). Our top picks are Barratt
(significant P&L leverage to new land, faster than expected debt paydown, strong turnaround in ROCE, 10% discount
to NTAV), Bovis (strong growth story with volumes, price and margins all offering scope for upside, a fast turnaround
in ROCE, 10% discount to NTAV) and Berkeley Group (strong pick up in the selling prices and margins from its new
London developments with potential for larger cash returns in the medium term). Barratt would be our preference in a
scenario of higher volumes.
Risks
Risks to the sector include the availability and affordability of mortgages, interest rate, unemployment rate and
consumer confidence, government funding and policy on planning, the timing and profitability of new land, changes
in raw material and labour pricing.
goldfinger
- 09 Jan 2013 10:37
- 243 of 430
BDEV
Brokers with a positive Buy Rating
on BDEV.........
Looks way too cheap too me trading
on a forward P/E of 12.7 to 2014
and historical P/E of 21.4... 2012.
Looks like scope for a major re- rating.
Date Company Name Broker Rec. Price Old target price New target price Notes
08 Jan 13 Barratt... Deutsche Bank Buy 216.15 224.00 278.00 Retains
17 Dec 12 Barratt... Credit Suisse Neutral 216.15 185.00 223.00 Retains
29 Nov 12 Barratt... HSBC Overweight 216.15 170.00 241.00 Retains
N@P Building Society
INVESTMENT RATIOS
2012 (A) 2013 (E) 2014 (E)
EBITDA £204.90m £243.89m £290.00m
EBIT £203.30m £245.00m £249.40m
Dividend Yield 0.00% 0.72% 1.52%
Dividend Cover x 7.65x 5.17x
PER 21.41x 18.12x 12.71x
PEG 0.13f 1.00f 0.30f
Net Asset Value PS 213.32p 324.40p 302.20p
Hemscott Premium.
Brokers with a positive Buy Rating
on BDEV.........
Looks way too cheap too me trading
on a forward P/E of 12.7 to 2014
and historical P/E of 21.4... 2012.
Looks like scope for a major re- rating.
Date Company Name Broker Rec. Price Old target price New target price Notes
08 Jan 13 Barratt... Deutsche Bank Buy 216.15 224.00 278.00 Retains
17 Dec 12 Barratt... Credit Suisse Neutral 216.15 185.00 223.00 Retains
29 Nov 12 Barratt... HSBC Overweight 216.15 170.00 241.00 Retains
N@P Building Society
INVESTMENT RATIOS
2012 (A) 2013 (E) 2014 (E)
EBITDA £204.90m £243.89m £290.00m
EBIT £203.30m £245.00m £249.40m
Dividend Yield 0.00% 0.72% 1.52%
Dividend Cover x 7.65x 5.17x
PER 21.41x 18.12x 12.71x
PEG 0.13f 1.00f 0.30f
Net Asset Value PS 213.32p 324.40p 302.20p
Hemscott Premium.
Nar1
- 14 Jan 2013 21:26
- 244 of 430
http://www.telegraph.co.uk/finance/economics/9799378/Personal-View-Housebuilders-lead-the-way-out-of-our-economic-slump.html
skinny
- 16 Jan 2013 07:04
- 245 of 430
Trading Statement
Highlights
· Group revenues of c. £950m, in line with prior year, and total completions of 5,085 units
· Private completions increased by 5.3% on the prior year to 4,241 units
· Group operating profit expected to be c. £80m for the period, up by c. 31% on the prior year
· Operating margin expected to increase to c. 8.4%, up from 6.4% in the prior year
· Profit before tax expected to be c. £45m, more than double the prior year
· Significant increase in approvals to acquire higher margin land with £453.0m of land acquisitions approved in the period equating to 9,320 plots on 67 sites
· Net debt as at 31 December 2012 of around £332m was significantly reduced from the £542.2m prior year position
· Private forward sales (excluding JVs) of £536.5m as at 31 December 2012 up 35.5% on the prior year
Highlights
· Group revenues of c. £950m, in line with prior year, and total completions of 5,085 units
· Private completions increased by 5.3% on the prior year to 4,241 units
· Group operating profit expected to be c. £80m for the period, up by c. 31% on the prior year
· Operating margin expected to increase to c. 8.4%, up from 6.4% in the prior year
· Profit before tax expected to be c. £45m, more than double the prior year
· Significant increase in approvals to acquire higher margin land with £453.0m of land acquisitions approved in the period equating to 9,320 plots on 67 sites
· Net debt as at 31 December 2012 of around £332m was significantly reduced from the £542.2m prior year position
· Private forward sales (excluding JVs) of £536.5m as at 31 December 2012 up 35.5% on the prior year
goldfinger
- 16 Jan 2013 08:08
- 246 of 430
BDEV BARRAT DEVELOPMENTS
Excelent set of results.
profits more than doubled.
http://www.investegate.co.uk/barratt-developments-(bdev)/rns/trading-statement/201301160700066533V/
Excelent set of results.
profits more than doubled.
http://www.investegate.co.uk/barratt-developments-(bdev)/rns/trading-statement/201301160700066533V/
goldfinger
- 16 Jan 2013 08:16
- 247 of 430
BUY notes coming out.
16 Jan Barratt... BDEV Shore Capital Buy 226.40 226.50 - - Reiterates
16 Jan Barratt... BDEV Shore Capital Buy 226.40 226.50 - - Reiterates
goldfinger
- 16 Jan 2013 08:23
- 248 of 430
UPDATE 1-UK's Barratt sees "significant" improvement in profit16 Jan 2013 - 07:27
LONDON, Jan 16 (Reuters) - British housebuilder Barratt said it expects a "significant" improvement in profits for the full year 2012-2013 after its profit before tax more than doubled in the first six months to December. Barratt, the UK's largest housebuilder by market volume, said on Wednesday it expects pre-tax profit over the half year period to rise by 108 percent to 45 million pounds ($72 million)and posted group revenues of 950 million pounds, in line with the prior year. The company completed 5,085 units over the period and secured private forward sales, excluding joint ventures, of 536.5 million pounds by the end of December, up 35.5 percent over the prior year, it said. "This has been a good first half performance," Group Chief Executive Mark Clare said. "In addition, we have been investing for the future, successfully securing higher margin land both in the South-East and across the rest of the country that will drive further profit growth. "We are on track to deliver around half of our full year completions from higher margin land, and combined with our continued focus on driving efficiency across the group, we expect to deliver a significant improvement in profitability for the full year 2013." Barratt said it had agreed terms on 453 million pounds worth of new land in the first half, equating to 9,320 plots on 67 sites, and that it expects to agree terms on 15,000 plots for the full year. It also said that it had bought two sites in London with a development value of 400 million pounds which would provide more than 1,000 new homes for the capital. Barratt and its rivals such as Taylor Wimpey and Persimmon have in the past year sought to beat a sluggish market by buying land cheaply during the recession, building more lucrative family homes rather than flats and focusing on areas where prices have stayed strong such as London and south England. Shares in Barratt, which have more than doubled in price over the past year, closed at 226.5 pence on Tuesday, valuing the company at 2.2 billion pounds. ($1 = 0.6215 British pounds) (Reporting by Brenda Goh; editing by Kate Holton) ((brenda.goh@thomsonreuters.com)(+44 020 7542 2230)(Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.net)) Keywords: BARRATT/
LONDON, Jan 16 (Reuters) - British housebuilder Barratt said it expects a "significant" improvement in profits for the full year 2012-2013 after its profit before tax more than doubled in the first six months to December. Barratt, the UK's largest housebuilder by market volume, said on Wednesday it expects pre-tax profit over the half year period to rise by 108 percent to 45 million pounds ($72 million)and posted group revenues of 950 million pounds, in line with the prior year. The company completed 5,085 units over the period and secured private forward sales, excluding joint ventures, of 536.5 million pounds by the end of December, up 35.5 percent over the prior year, it said. "This has been a good first half performance," Group Chief Executive Mark Clare said. "In addition, we have been investing for the future, successfully securing higher margin land both in the South-East and across the rest of the country that will drive further profit growth. "We are on track to deliver around half of our full year completions from higher margin land, and combined with our continued focus on driving efficiency across the group, we expect to deliver a significant improvement in profitability for the full year 2013." Barratt said it had agreed terms on 453 million pounds worth of new land in the first half, equating to 9,320 plots on 67 sites, and that it expects to agree terms on 15,000 plots for the full year. It also said that it had bought two sites in London with a development value of 400 million pounds which would provide more than 1,000 new homes for the capital. Barratt and its rivals such as Taylor Wimpey and Persimmon have in the past year sought to beat a sluggish market by buying land cheaply during the recession, building more lucrative family homes rather than flats and focusing on areas where prices have stayed strong such as London and south England. Shares in Barratt, which have more than doubled in price over the past year, closed at 226.5 pence on Tuesday, valuing the company at 2.2 billion pounds. ($1 = 0.6215 British pounds) (Reporting by Brenda Goh; editing by Kate Holton) ((brenda.goh@thomsonreuters.com)(+44 020 7542 2230)(Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.net)) Keywords: BARRATT/
goldfinger
- 16 Jan 2013 08:30
- 249 of 430
Davy Research @DavyResearch
Barratt Developments - Trading update signals good progress in margin improvement and debt pay-down in fi... -
http://www.davy.ie/LR?id=8334
Barratt Developments - Trading update signals good progress in margin improvement and debt pay-down in fi... -
http://www.davy.ie/LR?id=8334
goldfinger
- 16 Jan 2013 08:48
- 250 of 430
Precogz Updates @Precogz
#BDEV Barratt strategy paying off as update points to robust financial performance - Proactiveinvestors
http://www.proactiveinvestors.co.uk/companies/news/52486/barratt-strategy-paying-off-as-update-points-to-robust-financial-performance-52486.html …
#BDEV Barratt strategy paying off as update points to robust financial performance - Proactiveinvestors
http://www.proactiveinvestors.co.uk/companies/news/52486/barratt-strategy-paying-off-as-update-points-to-robust-financial-performance-52486.html …
goldfinger
- 16 Jan 2013 09:12
- 251 of 430
Biggy........
16 Jan Barratt... BDEV Bank of America Merrill Lynch Buy 221.50 226.50 234.00 265.00 Retains
SP Target 265p
16 Jan Barratt... BDEV Bank of America Merrill Lynch Buy 221.50 226.50 234.00 265.00 Retains
SP Target 265p
HARRYCAT
- 16 Jan 2013 09:15
- 252 of 430
StockMarketWire.com
Numis cuts Barratt Developments to hold from buy, target 170p
Numis cuts Barratt Developments to hold from buy, target 170p
goldfinger
- 24 Jan 2013 08:29
- 253 of 430
BDEV
Broker upgrade report...
http://www.dailypolitical.com/finance/stock-market/deutsche-bank-reaffirms-buy-rating-on-barratt-developments-bdev.htm
Broker upgrade report...
http://www.dailypolitical.com/finance/stock-market/deutsche-bank-reaffirms-buy-rating-on-barratt-developments-bdev.htm
Nar1
- 24 Jan 2013 09:00
- 254 of 430
Seems like the brokers cant make up their minds - BUY recommendation seems right to me with TP of 265... Buying pressure seems to be good this AM
goldfinger
- 24 Jan 2013 09:38
- 255 of 430
Morgan downgraded the whole sector yesterday, but other brokers are a lot more optimistic.
Fred1new
- 24 Jan 2013 15:53
- 256 of 430
If I read this RNS properly USB dropped BDEV 53,536,292 shares on 15th Jan 2013
Nar1
- 24 Jan 2013 21:36
- 257 of 430
?
Nar1
- 25 Jan 2013 09:20
- 258 of 430
Good start
goldfinger
- 25 Jan 2013 13:21
- 259 of 430
Going well today.
dreamcatcher
- 27 Jan 2013 19:34
- 260 of 430
The share has risen 125% in 2012 and more since the new year. Should have further upside. The company is in the enviable position of building on land it bought cheaply at the bottom of the cycle while selling its houses into a rising market. Debt levels along with write downs and off balance sheet financing have also subsided.
HARRYCAT
- 27 Jan 2013 20:43
- 261 of 430
DC, that summary comes from IC. You need to name your source each time in order to avoid accusations of plagiarism.
dreamcatcher
- 27 Jan 2013 21:04
- 262 of 430
Thats fine with me.
goldfinger
- 05 Feb 2013 10:20
- 263 of 430
05 Feb Barratt... BDEV Liberum Capital Buy 216.00 217.50 165.00 259.00 Reiterates
TARGET SP 259p.
TARGET SP 259p.
goldfinger
- 06 Feb 2013 10:13
- 264 of 430
Brokers With Buy ratings on
BDEV
Date Company Name Broker Rec. Price Old target price New target price Notes
05 Feb 13 Barratt... Liberum Capital Buy 227.25 165.00 259.00 Reiterates
17 Jan 13 Barratt... UBS Buy 227.25 210.00 250.00 Retains
17 Jan 13 Barratt... Deutsche Bank Buy 227.25 - 279.00 Retains
16 Jan 13 Barratt... Bank of America Merrill Lynch Buy 227.25 234.00 265.00 Retains
N@P Building Society.
BDEV
Date Company Name Broker Rec. Price Old target price New target price Notes
05 Feb 13 Barratt... Liberum Capital Buy 227.25 165.00 259.00 Reiterates
17 Jan 13 Barratt... UBS Buy 227.25 210.00 250.00 Retains
17 Jan 13 Barratt... Deutsche Bank Buy 227.25 - 279.00 Retains
16 Jan 13 Barratt... Bank of America Merrill Lynch Buy 227.25 234.00 265.00 Retains
N@P Building Society.
Nar1
- 11 Feb 2013 14:49
- 265 of 430
anyone here got level 2
goldfinger
- 12 Feb 2013 11:06
- 266 of 430
goldfinger
- 18 Feb 2013 09:46
- 267 of 430
18 Feb Barratt... BDEV Deutsche Bank Buy 234.05 233.30 279.00 279.00 Retains
279p SP Target.
279p SP Target.
dreamcatcher
- 24 Feb 2013 13:34
- 268 of 430
In the Sunday Mail today - Barratt Developments which closed at 239.5p will reveal interim results on Wednesday but is set to report a pre-tax profit for the year down slightly on 2011's £110m.
dreamcatcher
- 26 Feb 2013 17:40
- 269 of 430
Wednesday preview: Barratt Developments expects double profits
Tue 26 Feb 2013
LONDON (SHARECAST) - House-builder Barratt Developments is expected to reveal on Wednesday double-digit pre-tax profits for the last half of 2012.
In a trading update last month, the company said it anticipates profit before tax of £45m and revenues to remain unchanged at £950m.
Group operating profit is pegged at £80m, up by 31% on the prior year.
Net debt at the end of the year was £332m, down sharply £542.2m in the year before.
Chief Executive Mark Clare said: "This has been a good first half performance. Pre-tax profit has more than doubled, net debt was significantly lower than the prior year, and we have started the second half with a strong private forward order book up by over 35%.
"In addition, we have been investing for the future, successfully securing higher margin land both in the South-East and across the rest of the country that will drive further profit growth."
The group benefited from the UK’s NewBuy and FirstBuy mortgage schemes during the Autumn which provides aid to new homeowners.
At time of the announcement, Jefferies reiterated its ‘buy’ rating and a price target of 250p.
“The key risk, in our view, is a deterioration in mortgage availability,” the broker said.
“However, we expect mortgage supply to remain stable for the foreseeable future and initiatives such as NewBuy and FirstBuy to protect the group, in part, from any shocks in the market; so far, the funding for the lending scheme appears to be helping thaw mortgage supply across all loan to value bands
Tue 26 Feb 2013
LONDON (SHARECAST) - House-builder Barratt Developments is expected to reveal on Wednesday double-digit pre-tax profits for the last half of 2012.
In a trading update last month, the company said it anticipates profit before tax of £45m and revenues to remain unchanged at £950m.
Group operating profit is pegged at £80m, up by 31% on the prior year.
Net debt at the end of the year was £332m, down sharply £542.2m in the year before.
Chief Executive Mark Clare said: "This has been a good first half performance. Pre-tax profit has more than doubled, net debt was significantly lower than the prior year, and we have started the second half with a strong private forward order book up by over 35%.
"In addition, we have been investing for the future, successfully securing higher margin land both in the South-East and across the rest of the country that will drive further profit growth."
The group benefited from the UK’s NewBuy and FirstBuy mortgage schemes during the Autumn which provides aid to new homeowners.
At time of the announcement, Jefferies reiterated its ‘buy’ rating and a price target of 250p.
“The key risk, in our view, is a deterioration in mortgage availability,” the broker said.
“However, we expect mortgage supply to remain stable for the foreseeable future and initiatives such as NewBuy and FirstBuy to protect the group, in part, from any shocks in the market; so far, the funding for the lending scheme appears to be helping thaw mortgage supply across all loan to value bands
skinny
- 27 Feb 2013 07:04
- 270 of 430
Half Yearly Report
113% increase in pre-tax profit
First half highlights
· Group revenues of £951.1m (2011: £952.8m) and completions of 5,085 units (2011: 5,117 units)
· Private completions increased by 5.3% on the prior year to 4,241 units (2011: 4,028 units)
· Profit from operations up 32.2% at £80.8m (2011: £61.1m), with operating margin increasing to 8.5% (2011: 6.4%)
· Profit before tax increased by 113.4% on the prior year to £46.1m (2011: £21.6m)
· Significant increase in approvals to acquire higher margin land, with £453.0m of land acquisitions approved in the period equating to 9,320 plots on 67 sites
· Net debt as at 31 December 2012 was £331.7m (31 December 2011: £542.2m) and is forecast to be around £160m at 30 June 2013 (30 June 2012: £167.7m)
Outlook
· Strong start to the second half with the Group delivering 0.64 (FY12: 0.61) net private reservations per active site per week (excluding joint ventures)
· Private forward sales (excluding joint ventures) as at 24 February 2013 up by 34.0% to £897.7m (26 February 2012: £669.9m)
· Joint venture private forward sales as at 24 February 2013 up by 231.0% to £80.1m (26 February 2012: £24.2m)
· The Board expects to propose a final dividend for the year ended 30 June 2013
· The Board has targets of achieving zero net debt as at 30 June 2015, a dividend cover of around three times for the year ended 30 June 2016 and a substantial improvement in return on capital employed in the medium term
113% increase in pre-tax profit
First half highlights
· Group revenues of £951.1m (2011: £952.8m) and completions of 5,085 units (2011: 5,117 units)
· Private completions increased by 5.3% on the prior year to 4,241 units (2011: 4,028 units)
· Profit from operations up 32.2% at £80.8m (2011: £61.1m), with operating margin increasing to 8.5% (2011: 6.4%)
· Profit before tax increased by 113.4% on the prior year to £46.1m (2011: £21.6m)
· Significant increase in approvals to acquire higher margin land, with £453.0m of land acquisitions approved in the period equating to 9,320 plots on 67 sites
· Net debt as at 31 December 2012 was £331.7m (31 December 2011: £542.2m) and is forecast to be around £160m at 30 June 2013 (30 June 2012: £167.7m)
Outlook
· Strong start to the second half with the Group delivering 0.64 (FY12: 0.61) net private reservations per active site per week (excluding joint ventures)
· Private forward sales (excluding joint ventures) as at 24 February 2013 up by 34.0% to £897.7m (26 February 2012: £669.9m)
· Joint venture private forward sales as at 24 February 2013 up by 231.0% to £80.1m (26 February 2012: £24.2m)
· The Board expects to propose a final dividend for the year ended 30 June 2013
· The Board has targets of achieving zero net debt as at 30 June 2015, a dividend cover of around three times for the year ended 30 June 2016 and a substantial improvement in return on capital employed in the medium term
dreamcatcher
- 18 Mar 2013 18:15
- 271 of 430
Sold my holding in at 95p Nov 11
skinny
- 28 Mar 2013 10:04
- 272 of 430
JP Morgan Cazenove Neutral 269.80 267.60 200.00 250.00 Upgrades
skinny
- 10 Apr 2013 07:40
- 273 of 430
HSBC Overweight 267.10 267.40 241.00 355.00 Retains
skinny
- 09 May 2013 07:05
- 274 of 430
Interim Management Statement
Highlights
· 9.7% increase in net private reservations to 0.68 (2012: 0.62) per week per active site
· 18.0% uplift on the prior year in net private reservations per week per active site to 0.72 (2012: 0.61) following the announcement of the Government's Help to Buy scheme
· Private ASP up c. 4% on completions in the period, with a higher rate of increase expected for the second half as a whole, driven by changes in mix
· Private forward sales (excluding joint ventures) up 28.5% as at 5 May 2013 to £1,013.5m (6 May 2012: £788.6m)
· Good progress made with our land investment strategy and expect to approve the purchase of c. 17,000 plots in FY13 (FY12: 12,085 plots), with attractive opportunities continuing to be available
· Net debt guidance reduced to c. £100m for 30 June 2013 (30 June 2012: £167.7m), reflecting the timing of land payments and control of working capital
· Over the next three years the Group intends to recruit around 600 graduates and apprentices, designed to tackle the skills shortage that could constrain future growth prospects of the industry
Highlights
· 9.7% increase in net private reservations to 0.68 (2012: 0.62) per week per active site
· 18.0% uplift on the prior year in net private reservations per week per active site to 0.72 (2012: 0.61) following the announcement of the Government's Help to Buy scheme
· Private ASP up c. 4% on completions in the period, with a higher rate of increase expected for the second half as a whole, driven by changes in mix
· Private forward sales (excluding joint ventures) up 28.5% as at 5 May 2013 to £1,013.5m (6 May 2012: £788.6m)
· Good progress made with our land investment strategy and expect to approve the purchase of c. 17,000 plots in FY13 (FY12: 12,085 plots), with attractive opportunities continuing to be available
· Net debt guidance reduced to c. £100m for 30 June 2013 (30 June 2012: £167.7m), reflecting the timing of land payments and control of working capital
· Over the next three years the Group intends to recruit around 600 graduates and apprentices, designed to tackle the skills shortage that could constrain future growth prospects of the industry
skinny
- 09 May 2013 12:07
- 275 of 430
Numis Hold 316.95 - 320.00 Retains
midknight
- 09 May 2013 14:33
- 276 of 430
Jefferies: Reiterates: Buy - TP held at 385p
skinny
- 14 May 2013 08:28
- 277 of 430
Deutsche Bank Buy 306.95 336.00 336.00 Reiterates
Bank of America Merrill Lynch Neutral 306.95 265.00 325.00 Downgrades
Bank of America Merrill Lynch Neutral 306.95 265.00 325.00 Downgrades
HARRYCAT
- 15 May 2013 08:26
- 278 of 430
Agrees a comprehensive refinancing package
Barratt Developments PLC (the 'Group') announces that it has reached separate agreements for a comprehensive refinancing package and the monetisation of a portion of the Group's shared equity portfolio.
Highlights
· Committed borrowing facilities of c. £850m at attractive terms, with maturities ranging from 2016 to 2021
· Early repayment of historic high cost private placement notes
· Cancellation of interest rate swaps
· Reduction of underlying average interest rate to c. 4.5%
· Raised £34m by monetising part of its shared equity portfolio
· Maintains guidance of zero net debt as at 30 June 2015
Commenting, David Thomas, Group Finance Director of Barratt Developments said:
"We are delighted to have agreed this comprehensive refinancing package ahead of schedule which will provide us with more appropriate lending facilities, in terms of both interest cost and duration. It reflects our improved financial position and the significant progress we've made towards our target of zero net debt as at 30 June 2015.
The monetisation of the shared equity portfolio is in line with our strategy and represents another self-help measure to improve profitability, reduce net debt and increase return on capital employed. The fact that we've been able to conclude this deal now is further evidence of the improving outlook for the sector."
Barratt Developments PLC (the 'Group') announces that it has reached separate agreements for a comprehensive refinancing package and the monetisation of a portion of the Group's shared equity portfolio.
Highlights
· Committed borrowing facilities of c. £850m at attractive terms, with maturities ranging from 2016 to 2021
· Early repayment of historic high cost private placement notes
· Cancellation of interest rate swaps
· Reduction of underlying average interest rate to c. 4.5%
· Raised £34m by monetising part of its shared equity portfolio
· Maintains guidance of zero net debt as at 30 June 2015
Commenting, David Thomas, Group Finance Director of Barratt Developments said:
"We are delighted to have agreed this comprehensive refinancing package ahead of schedule which will provide us with more appropriate lending facilities, in terms of both interest cost and duration. It reflects our improved financial position and the significant progress we've made towards our target of zero net debt as at 30 June 2015.
The monetisation of the shared equity portfolio is in line with our strategy and represents another self-help measure to improve profitability, reduce net debt and increase return on capital employed. The fact that we've been able to conclude this deal now is further evidence of the improving outlook for the sector."
skinny
- 10 Jul 2013 07:03
- 279 of 430
Trading Statement
Highlights
· Sales rate up 17.9% in the second half on the prior year, with average net private reservations per active site per week of 0.66. Sales rate up by 34.7% since the launch of Help to Buy in April
· Total completions, including joint ventures, of 13,663 for the full year, with private completions up by 16.1% in the second half on the prior year
· Private average selling price ('ASP') up by c. 9% in the second half on the prior year to c. £221k reflecting changes in mix
· Operating margin expected to increase to c. 10.4% in the second half and c. 9.7% for the full year, up from 8.2% in the prior full year
· Profit before tax and exceptional items for the full year expected to be c. £192m, ahead of the top end of analysts' expectations
· Strong momentum reflected in the forward order book, with total forward sales up 53.6% to £829.7m as at 30 June 2013
· The Group had a modest net debt position as at 30 June 2013 of c. £30m (2012: £167.7m), significantly lower than prior guidance reflecting a higher number of completions and the timing benefit of land payments
· The Group continues to see good opportunities in the land market and has increased its rate of acquisition, approving 18,536 plots (2012: 12,085 plots) in the full year
Highlights
· Sales rate up 17.9% in the second half on the prior year, with average net private reservations per active site per week of 0.66. Sales rate up by 34.7% since the launch of Help to Buy in April
· Total completions, including joint ventures, of 13,663 for the full year, with private completions up by 16.1% in the second half on the prior year
· Private average selling price ('ASP') up by c. 9% in the second half on the prior year to c. £221k reflecting changes in mix
· Operating margin expected to increase to c. 10.4% in the second half and c. 9.7% for the full year, up from 8.2% in the prior full year
· Profit before tax and exceptional items for the full year expected to be c. £192m, ahead of the top end of analysts' expectations
· Strong momentum reflected in the forward order book, with total forward sales up 53.6% to £829.7m as at 30 June 2013
· The Group had a modest net debt position as at 30 June 2013 of c. £30m (2012: £167.7m), significantly lower than prior guidance reflecting a higher number of completions and the timing benefit of land payments
· The Group continues to see good opportunities in the land market and has increased its rate of acquisition, approving 18,536 plots (2012: 12,085 plots) in the full year
HARRYCAT
- 24 Jul 2013 08:02
- 280 of 430
Barratt accelerates investment in London - 1,100 new homes for the capital announced
Barratt today announces an expansion of its London business with confirmation that two further joint ventures ('JVs') would bring the gross development value ('GDV') of the Group's JVs in the capital to over £2.0 bn.
The two new JVs taken together would bring a total of c.1,100 much needed new homes for London and Barratt confirmed that it was now targeting 2,000 completions per year from its London business in the medium term.
In their first major partnership, British Land and Barratt London have secured planning permission for 463 homes, a 160 room hotel, retail and office space at Aldgate Place on the edge of the City. The development, which is adjacent to the Barratt London Alie Street site, will include three towers of over 20 storeys as well as public open space and a pedestrian street. It will have a GDV of around £250m and work is scheduled to start early in 2014.
Barratt London has also confirmed that it is progressing a further JV with L&Q, to develop the Sainsbury's site at Nine Elms. The site has GDV of £425m with a detailed planning permission for 645 homes, a new Sainsbury's store and c. 27,000 sq. ft. of retail and office space. This will be the Group's fourth JV in London with L&Q.
When speaking at the Company's analyst briefing on its London business Mark Clare, Group Chief Executive, will say: "Our Barratt London business is expanding fast and we are now working on £2 bn of new developments with four JV partners - British Land, L&Q, Morgan Stanley Real Estate Investing and Metropolitan Housing. We are planning to deliver 2,000 new homes a year in London and our technical capability to deliver complex schemes in the capital is providing us with a competitive edge in securing new business."
Barratt today announces an expansion of its London business with confirmation that two further joint ventures ('JVs') would bring the gross development value ('GDV') of the Group's JVs in the capital to over £2.0 bn.
The two new JVs taken together would bring a total of c.1,100 much needed new homes for London and Barratt confirmed that it was now targeting 2,000 completions per year from its London business in the medium term.
In their first major partnership, British Land and Barratt London have secured planning permission for 463 homes, a 160 room hotel, retail and office space at Aldgate Place on the edge of the City. The development, which is adjacent to the Barratt London Alie Street site, will include three towers of over 20 storeys as well as public open space and a pedestrian street. It will have a GDV of around £250m and work is scheduled to start early in 2014.
Barratt London has also confirmed that it is progressing a further JV with L&Q, to develop the Sainsbury's site at Nine Elms. The site has GDV of £425m with a detailed planning permission for 645 homes, a new Sainsbury's store and c. 27,000 sq. ft. of retail and office space. This will be the Group's fourth JV in London with L&Q.
When speaking at the Company's analyst briefing on its London business Mark Clare, Group Chief Executive, will say: "Our Barratt London business is expanding fast and we are now working on £2 bn of new developments with four JV partners - British Land, L&Q, Morgan Stanley Real Estate Investing and Metropolitan Housing. We are planning to deliver 2,000 new homes a year in London and our technical capability to deliver complex schemes in the capital is providing us with a competitive edge in securing new business."
skinny
- 07 Aug 2013 07:20
- 281 of 430
Nar1
- 15 Aug 2013 18:29
- 282 of 430
Bought back in earlier today hoping to see some recovery tomorrow.
Nar1
- 16 Aug 2013 09:06
- 283 of 430
Not bad start already -
Nar1
- 20 Aug 2013 09:18
- 284 of 430
http://www.proactiveinvestors.co.uk/columns/trader-talk/13862/barratt-developments-to-benefit-from-london-exposure-13862.html
Nar1
- 02 Sep 2013 14:18
- 285 of 430
Final Results 11-Sep-2013
skinny
- 11 Sep 2013 07:02
- 286 of 430
Final Results
Full year highlights
· Group revenues up by 12.2% for the full year to £2,606.2m (2012: £2,323.4m), with completions (including joint ventures) of 13,663 units (2012: 12,857 units)
· Average selling prices(1) increased to £194,800 (2012: £180,500) with private average selling prices increasing by 6.0% to £213,900 (2012: £201,800)
· Group operating profit before operating exceptional items for the full year up by 32.2% to £252.7m (2012: £191.1m)(2)
· Operating margin(3) increased to 10.4% (2012: 9.5%) in the second half and to 9.7% for the full year, up from 8.2% in the prior full year
· Profit before tax and exceptional items increased by 73.7% to £192.3m (2012: £110.7m)(4)
· Net debt at 30 June 2013 significantly reduced to £25.9m (2012: £167.7m)
Outlook
· Very strong start to the new financial year with a 29.4% increase in average net private reservations per week per active site for the first ten weeks compared with the same period last year
· Private forward sales up 44.4% to £880.4m as at 8 September 2013 (9 September 2012: £609.6m)
· Continue to see good opportunities in the land market that meet our minimum hurdle rates of 20% gross margin and 25% return on capital employed ('ROCE')
· Group has outperformed on its target to reduce indebtedness and going forward expects to maintain an appropriate capital structure
· Focus on driving significant improvement in ROCE with an 18% ROCE target set for FY16
· The Board is proposing a final dividend of 2.5 pence per share payable in November and is adopting a progressive dividend policy with a target of three times dividend cover for FY16
Full year highlights
· Group revenues up by 12.2% for the full year to £2,606.2m (2012: £2,323.4m), with completions (including joint ventures) of 13,663 units (2012: 12,857 units)
· Average selling prices(1) increased to £194,800 (2012: £180,500) with private average selling prices increasing by 6.0% to £213,900 (2012: £201,800)
· Group operating profit before operating exceptional items for the full year up by 32.2% to £252.7m (2012: £191.1m)(2)
· Operating margin(3) increased to 10.4% (2012: 9.5%) in the second half and to 9.7% for the full year, up from 8.2% in the prior full year
· Profit before tax and exceptional items increased by 73.7% to £192.3m (2012: £110.7m)(4)
· Net debt at 30 June 2013 significantly reduced to £25.9m (2012: £167.7m)
Outlook
· Very strong start to the new financial year with a 29.4% increase in average net private reservations per week per active site for the first ten weeks compared with the same period last year
· Private forward sales up 44.4% to £880.4m as at 8 September 2013 (9 September 2012: £609.6m)
· Continue to see good opportunities in the land market that meet our minimum hurdle rates of 20% gross margin and 25% return on capital employed ('ROCE')
· Group has outperformed on its target to reduce indebtedness and going forward expects to maintain an appropriate capital structure
· Focus on driving significant improvement in ROCE with an 18% ROCE target set for FY16
· The Board is proposing a final dividend of 2.5 pence per share payable in November and is adopting a progressive dividend policy with a target of three times dividend cover for FY16
skinny
- 12 Sep 2013 07:41
- 287 of 430
JP Morgan Cazenove Neutral 317.10 317.10 360.00 - Reiterates
Citigroup Neutral 317.10 317.10 315.00 330.00 Reiterates
Deutsche Bank Buy 317.10 317.10 365.00 365.00 Reiterates
Beaufort Securities Hold 317.10 317.10 - - Retains
Citigroup Neutral 317.10 317.10 315.00 330.00 Reiterates
Deutsche Bank Buy 317.10 317.10 365.00 365.00 Reiterates
Beaufort Securities Hold 317.10 317.10 - - Retains
skinny
- 13 Sep 2013 07:17
- 288 of 430
Liberum Capital Buy 315.00 315.00 358.00 374.00 Upgrades
Nar1
- 13 Sep 2013 09:12
- 289 of 430
374 would be very nice
skinny
- 13 Sep 2013 16:14
- 290 of 430
Deutsche Bank Buy 331.20 315.00 365.00 365.00 Reiterates
skinny
- 20 Sep 2013 08:38
- 291 of 430
BDEV just took off and hit my limit sell.
midknight
- 23 Sep 2013 15:36
- 292 of 430
Deutsche seems to like reiterating:
23 Sep: BDEV: Buy - TP: 365p.
23 Sep: BDEV: Buy - TP: 365p.
david lucas - 23 Sep 2013 22:08 - 293 of 430
Have bought 2000 on drop at 316p. Hoping to make a quick 20p!
skinny
- 30 Sep 2013 09:00
- 294 of 430
JP Morgan Cazenove Overweight 309.40 302.10 360.00 360.00 Upgrades
david lucas - 30 Sep 2013 09:08 - 295 of 430
Bought 2000 at 306
ontheturn - 30 Sep 2013 09:30 - 296 of 430
re - Have bought 2000 on drop at 316p. Hoping to make a quick 20p!
one week gone and on the red,
dreaming of quick money can turn into a red dream or a wet one
News the Help to Buy scheme is to enjoy an early launch should give a boost to Builders
one week gone and on the red,
dreaming of quick money can turn into a red dream or a wet one
News the Help to Buy scheme is to enjoy an early launch should give a boost to Builders
goldfinger
- 30 Sep 2013 09:33
- 297 of 430
yep lovely SP action here.
Im amazed at how all but 1 of my holdings are up today, yesterday evening I was putting together an 'escape plan' .
Must admit though if you had looked at broker recos before the open I haven seen as many for a long time on a monday, all trying to look after their clients stock.
Im amazed at how all but 1 of my holdings are up today, yesterday evening I was putting together an 'escape plan' .
Must admit though if you had looked at broker recos before the open I haven seen as many for a long time on a monday, all trying to look after their clients stock.
david lucas - 30 Sep 2013 09:53 - 298 of 430
Hi OTT. A drop in the price for a company like BDEV is abuying opportunity. I have a strong belief in the building co's at the moment. There is a supply shortage, government subsidies and an eager demand for first time buyers. I have CRST, BVS and BDEV. Overall I am considerably up on the year. At 306 BDEV is a strong buy for me!
ontheturn - 30 Sep 2013 12:31 - 299 of 430
Hi david
Not to worry lont term, as 300p looks into good support.
I am with TW. since last Thursday, as 99p thought it was a good support so bought at 100.10p, just to fall to 97p the day after, but today it seems is bouncing back soon to the price I paid.
Not to worry lont term, as 300p looks into good support.
I am with TW. since last Thursday, as 99p thought it was a good support so bought at 100.10p, just to fall to 97p the day after, but today it seems is bouncing back soon to the price I paid.
david lucas - 30 Sep 2013 15:28 - 300 of 430
You should make money at 100p for TW!
midknight
- 04 Oct 2013 11:30
- 301 of 430
BDEV 4 Oct:
Deutsche reiterates: Buy - TP: 365p
Panmure Gordon also reiterates: Buy - TP: 352p
Deutsche reiterates: Buy - TP: 365p
Panmure Gordon also reiterates: Buy - TP: 352p
Nar1
- 09 Oct 2013 09:28
- 302 of 430
nice rise today
midknight
- 09 Oct 2013 10:37
- 303 of 430
9 October: Goldman Sachs: Buy - TP: 371p (Upgrades)
skinny
- 09 Oct 2013 10:45
- 304 of 430
ontheturn - 09 Oct 2013 17:32 - 305 of 430
Good run for the builders today, with TW. the best of the lot, with a rise of 5.2% PSN 5%, CRST 4.2% and BDEV 3.6%
skinny
- 10 Oct 2013 07:12
- 306 of 430
Deutsche Bank Buy 320.00 320.00 365.00 365.00 Reiterate
ontheturn - 10 Oct 2013 14:45 - 307 of 430
Who is at TOP today? .... PSN with 5.54%
BDEV Barratt Deve... 328.00 +8.00 +2.50%
BVS Bovis Homes ... 749.50 +32.50 +4.53%
BWY Bellway 1,339.25 +19.25 +1.46%
BWYA Bellway 103.75 +1.25 +1.22%
CRST Crest Nichol... 348.00 +4.50 +1.31%
PSN Persimmon 1,193.64 +62.64 +5.54%
RDW Redrow 242.34 +5.28 +2.24%
TW. Taylor Wimpey 108.10 +4.30 +4.14%
BDEV Barratt Deve... 328.00 +8.00 +2.50%
BVS Bovis Homes ... 749.50 +32.50 +4.53%
BWY Bellway 1,339.25 +19.25 +1.46%
BWYA Bellway 103.75 +1.25 +1.22%
CRST Crest Nichol... 348.00 +4.50 +1.31%
PSN Persimmon 1,193.64 +62.64 +5.54%
RDW Redrow 242.34 +5.28 +2.24%
TW. Taylor Wimpey 108.10 +4.30 +4.14%
midknight
- 11 Oct 2013 12:38
- 308 of 430
11 Oct: Deutsche reiterates: Buy - TP raised to 391p.
HARRYCAT
- 14 Oct 2013 08:15
- 309 of 430
BDEV ex-divi wed 23rd Oct (2.5p)
midknight
- 14 Oct 2013 11:24
- 310 of 430
14 Oct: Bank of America: Buy and TP upgrade from 365p to 400p.
midknight
- 21 Oct 2013 11:57
- 311 of 430
21 Oct: Deutsche reiterates: Buy - TP held at 391p.
midknight
- 22 Oct 2013 12:34
- 312 of 430
22 Oct: Panmure Gordon reiterates: Buy - TP down from
381p to 352p.
xd tomorrow.
381p to 352p.
xd tomorrow.
cynic
- 22 Oct 2013 12:36
- 313 of 430
best of the lot is arguably NMX3720 :-)
skinny
- 13 Nov 2013 07:03
- 314 of 430
Interim Management Statement
Strong performance; private forward sales up 47%
Highlights
· Significant improvement in sales rates across all six of our operating regions
· Net private reservations per active site per week of 0.71 (2012: 0.54), up 31.5% on the prior year
· Continue to see a year on year improvement in net pricing of 150 to 200 basis points, largely reflecting a reduction in the level of incentives offered
· Private forward sales of £1,127.4m, up 46.7% on the prior year (2012: £768.5m)
· Continue to secure excellent land opportunities that at least meet our minimum hurdle rates, with 8,150 plots (2012: 3,685 plots) approved in the period
Strong performance; private forward sales up 47%
Highlights
· Significant improvement in sales rates across all six of our operating regions
· Net private reservations per active site per week of 0.71 (2012: 0.54), up 31.5% on the prior year
· Continue to see a year on year improvement in net pricing of 150 to 200 basis points, largely reflecting a reduction in the level of incentives offered
· Private forward sales of £1,127.4m, up 46.7% on the prior year (2012: £768.5m)
· Continue to secure excellent land opportunities that at least meet our minimum hurdle rates, with 8,150 plots (2012: 3,685 plots) approved in the period
midknight
- 13 Nov 2013 15:32
- 315 of 430
Nov 13: TP raised by a penny by Panmure Gordon.
Reiterates Buy - TP: 382p.
Reiterates Buy - TP: 382p.
midknight
- 20 Nov 2013 12:17
- 316 of 430
Nov 20: Barclays (new coverage) Equal-weight - TP: 444.70p
skinny
- 20 Nov 2013 12:24
- 317 of 430
They've been out in force this morning on the builders :-
TW. Barclays Capital Overweight 107.70 107.00 - 146.80 Initiates/Starts
RDW Barclays Capital Overweight 268.70 268.60 - 356.00 Initiates/Starts
PSN Barclays Capital Equal weight 1,194.00 1,185.00 - 1,260.40 Initiates/Starts
GFRD Barclays Capital Equal weight 1,093.50 1,087.00 - 1,200.10 Initiates/Starts
CRST Barclays Capital Overweight 358.80 361.50 390.00 422.80 Reiterates
BVS Barclays Capital Underweight 775.00 767.00 - 778.10 Initiates/Starts
BKG Barclays Capital Equal weight 2,299.00 2,291.00 - 2,454.70 Initiates/Starts
BWY Barclays Capital Underweight 1,423.00 1,425.00 - 1,498.10 Initiates/Starts
BDEV Barclays Capital Overweight 327.05 321.10 - 444.70 Initiates/Starts
TW. Barclays Capital Overweight 107.70 107.00 - 146.80 Initiates/Starts
RDW Barclays Capital Overweight 268.70 268.60 - 356.00 Initiates/Starts
PSN Barclays Capital Equal weight 1,194.00 1,185.00 - 1,260.40 Initiates/Starts
GFRD Barclays Capital Equal weight 1,093.50 1,087.00 - 1,200.10 Initiates/Starts
CRST Barclays Capital Overweight 358.80 361.50 390.00 422.80 Reiterates
BVS Barclays Capital Underweight 775.00 767.00 - 778.10 Initiates/Starts
BKG Barclays Capital Equal weight 2,299.00 2,291.00 - 2,454.70 Initiates/Starts
BWY Barclays Capital Underweight 1,423.00 1,425.00 - 1,498.10 Initiates/Starts
BDEV Barclays Capital Overweight 327.05 321.10 - 444.70 Initiates/Starts
skinny
- 28 Nov 2013 10:38
- 318 of 430
Sudden fall of 30+ points.
Carney I guess?
;MA(50);MA(200)&IND=MACD(26,12,9);VOLMA(60);RSI(14)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
Carney I guess?
midknight
- 28 Nov 2013 10:51
- 319 of 430
All housebuilders down:
http://www.bbc.co.uk/news/business-25124058
http://www.bbc.co.uk/news/business-25124058
skinny
- 29 Nov 2013 07:23
- 320 of 430
Deutsche Bank Buy 329.90 329.90 394.00 - Reiterates
Shortie - 29 Nov 2013 11:35 - 321 of 430
@ 329.14 sold short, technical play...
midknight
- 02 Dec 2013 11:41
- 322 of 430
2 Dec:
Citigroup upgrades: Buy - TP upped from 345p to 390p
Deutsche reiterates Buy - TP held at 394p
Citigroup upgrades: Buy - TP upped from 345p to 390p
Deutsche reiterates Buy - TP held at 394p
jimmy b
- 02 Dec 2013 23:22
- 323 of 430
The best returns are probably behind the housebuilders but government support should bring income for years to come, says Questor
Housebuilding sector: HOLD
= House price party over? =
Is the party over for shares in housebuilders after the Bank of England said it would stop a key funding scheme? The news that the Bank of England would remove the Funding for Lending Scheme (FLS) to boost household borrowing and instead focus the programme on small businesses sent shares in the sector sharply lower. After the announcement, shares in Persimmon (Frankfurt: OHP.F - news) and Taylor Wimpey closed the week down more than 6pc. However, fears that this is the first step to curtailing Help to Buy look misplaced. In fact, analysts believe this is a buying opportunity.
= The punch bowl remains =
The main driving force behind housebuilders’ shares during the past 12 months has been the success of Help to Buy. Analysts at Liberum Capital think the scheme is not under threat. Mark Carney, Governor of the Bank of England, when talking about the recent FLS changes, said: “These changes have no implications for HM Government’s Help to Buy scheme.” So far there have been no changes made to the Government’s housing support measures and mortgage approval rates reached a near six-year high in October as the scheme takes hold.
= Structural support =
The backdrop of the housing market still supports further share price growth. There remains a shortage of housing in the UK, with demand about twice the current levels of supply. Help to Buy is providing significant support to first-time buyers, which is allowing those already on the housing ladder to move up. Having cut costs during the recession, the housebuilders are now reporting improved margins and profitability. As order books fill up, this supports sales growth. Persimmon recently said sales activity was up a fifth on levels last year.
= Income on offer=
With the Government’s key housing price support measure still in place, sales for next year well backed up by record order books and profit margins returning to pre-crisis levels, the housebuilders’ pre-tax profit outlook is good. The sector is also not looking expensive, trading on an average of 11.5 times forecast earnings. While the best of the gains are probably behind the sector, there are still chunky yields on offer through returns of capital. Persimmon and Taylor Wimpey should both yield more than 6pc over coming years. Hold for income
Housebuilding sector: HOLD
= House price party over? =
Is the party over for shares in housebuilders after the Bank of England said it would stop a key funding scheme? The news that the Bank of England would remove the Funding for Lending Scheme (FLS) to boost household borrowing and instead focus the programme on small businesses sent shares in the sector sharply lower. After the announcement, shares in Persimmon (Frankfurt: OHP.F - news) and Taylor Wimpey closed the week down more than 6pc. However, fears that this is the first step to curtailing Help to Buy look misplaced. In fact, analysts believe this is a buying opportunity.
= The punch bowl remains =
The main driving force behind housebuilders’ shares during the past 12 months has been the success of Help to Buy. Analysts at Liberum Capital think the scheme is not under threat. Mark Carney, Governor of the Bank of England, when talking about the recent FLS changes, said: “These changes have no implications for HM Government’s Help to Buy scheme.” So far there have been no changes made to the Government’s housing support measures and mortgage approval rates reached a near six-year high in October as the scheme takes hold.
= Structural support =
The backdrop of the housing market still supports further share price growth. There remains a shortage of housing in the UK, with demand about twice the current levels of supply. Help to Buy is providing significant support to first-time buyers, which is allowing those already on the housing ladder to move up. Having cut costs during the recession, the housebuilders are now reporting improved margins and profitability. As order books fill up, this supports sales growth. Persimmon recently said sales activity was up a fifth on levels last year.
= Income on offer=
With the Government’s key housing price support measure still in place, sales for next year well backed up by record order books and profit margins returning to pre-crisis levels, the housebuilders’ pre-tax profit outlook is good. The sector is also not looking expensive, trading on an average of 11.5 times forecast earnings. While the best of the gains are probably behind the sector, there are still chunky yields on offer through returns of capital. Persimmon and Taylor Wimpey should both yield more than 6pc over coming years. Hold for income
skinny
- 05 Dec 2013 11:58
- 324 of 430
George Osborne says Aldermore and Virgin to join Help to Buy mortgage scheme
Shortie - 05 Dec 2013 12:09 - 325 of 430
Short closed, small profit.
goldfinger
- 06 Dec 2013 08:18
- 326 of 430
06 Dec 2013 Barratt... BDEV Jefferies International Buy 0.00 324.70 435.00 474.00 Reiterates
SP TARGET 474p.
SP TARGET 474p.
goldfinger
- 06 Dec 2013 08:28
- 327 of 430
Barratt Developments PT Raised to GBX 474 at Jefferies Group (BDEV)
Posted by John Perry on Dec 6th, 2013
Equities research analysts at Jefferies Group raised their price target on shares of Barratt Developments (LON:BDEV) from GBX 435 ($7.12) to GBX 474 ($7.76) in a research note issued to investors on Friday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price would suggest a potential upside of 45.98% from the company’s current price.
A number of other firms have also recently commented on BDEV. Analysts at Citigroup Inc. upgraded shares of Barratt Developments to a “buy” rating in a research note to investors on Monday. They now have a GBX 390 ($6.39) price target on the stock, up previously from GBX 345 ($5.65). Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Barratt Developments in a research note to investors on Monday. They now have a GBX 394 ($6.45) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Barratt Developments in a research note to investors on Friday, November 22nd. They now have a GBX 394 ($6.45) price target on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of GBX 383.33 ($6.28).
Barratt Developments (LON:BDEV) opened at 324.70 on Friday. Barratt Developments has a one year low of GBX 194.00 and a one year high of GBX 359.80. The stock’s 50-day moving average is GBX 330.9 and its 200-day moving average is GBX 325.0. The company’s market cap is £3.168 billion.
Barratt Developments PLC is a holding company. The Company’s principal activities consists of acquiring and developing land, planning, designing and constructing residential property developments and selling the homes it builds.
Posted by John Perry on Dec 6th, 2013
Equities research analysts at Jefferies Group raised their price target on shares of Barratt Developments (LON:BDEV) from GBX 435 ($7.12) to GBX 474 ($7.76) in a research note issued to investors on Friday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price would suggest a potential upside of 45.98% from the company’s current price.
A number of other firms have also recently commented on BDEV. Analysts at Citigroup Inc. upgraded shares of Barratt Developments to a “buy” rating in a research note to investors on Monday. They now have a GBX 390 ($6.39) price target on the stock, up previously from GBX 345 ($5.65). Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Barratt Developments in a research note to investors on Monday. They now have a GBX 394 ($6.45) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Barratt Developments in a research note to investors on Friday, November 22nd. They now have a GBX 394 ($6.45) price target on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of GBX 383.33 ($6.28).
Barratt Developments (LON:BDEV) opened at 324.70 on Friday. Barratt Developments has a one year low of GBX 194.00 and a one year high of GBX 359.80. The stock’s 50-day moving average is GBX 330.9 and its 200-day moving average is GBX 325.0. The company’s market cap is £3.168 billion.
Barratt Developments PLC is a holding company. The Company’s principal activities consists of acquiring and developing land, planning, designing and constructing residential property developments and selling the homes it builds.
goldfinger
- 06 Dec 2013 09:14
- 328 of 430
06 Dec 2013 Barratt... BDEV Liberum Capital Buy 330.50 324.70 - 387.00 Reiterates
SP TARGET 387p
SP TARGET 387p
goldfinger
- 06 Dec 2013 09:21
- 329 of 430
Barratt Developments Given “Buy” Rating at Liberum Capital (BDEV)
Posted by Tammy Falkenburg on Dec 6th, 2013
Barratt Developments (LON:BDEV)‘s stock had its “buy” rating restated by equities researchers at Liberum Capital in a research report issued on Friday, American Banking and Market News reports. They currently have a GBX 387 ($6.34) target price on the stock. Liberum Capital’s price target would indicate a potential upside of 19.19% from the stock’s previous close.
Barratt Developments (LON:BDEV) opened at 328.90 on Friday. Barratt Developments has a 52-week low of GBX 194.00 and a 52-week high of GBX 359.80. The stock’s 50-day moving average is GBX 330.9 and its 200-day moving average is GBX 325.0. The company’s market cap is £3.209 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of Barratt Developments from GBX 435 ($7.12) to GBX 474 ($7.76) in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Citigroup Inc. upgraded shares of Barratt Developments to a “buy” rating in a research note to investors on Monday. They now have a GBX 390 ($6.39) price target on the stock, up previously from GBX 345 ($5.65). Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Barratt Developments in a research note to investors on Monday. They now have a GBX 394 ($6.45) price target on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of GBX 383.33 ($6.28).
Barratt Developments PLC is a holding company. The Company’s principal activities consists of acquiring and developing land, planning, designing and constructing residential property developments and selling the homes it builds
Posted by Tammy Falkenburg on Dec 6th, 2013
Barratt Developments (LON:BDEV)‘s stock had its “buy” rating restated by equities researchers at Liberum Capital in a research report issued on Friday, American Banking and Market News reports. They currently have a GBX 387 ($6.34) target price on the stock. Liberum Capital’s price target would indicate a potential upside of 19.19% from the stock’s previous close.
Barratt Developments (LON:BDEV) opened at 328.90 on Friday. Barratt Developments has a 52-week low of GBX 194.00 and a 52-week high of GBX 359.80. The stock’s 50-day moving average is GBX 330.9 and its 200-day moving average is GBX 325.0. The company’s market cap is £3.209 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of Barratt Developments from GBX 435 ($7.12) to GBX 474 ($7.76) in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Citigroup Inc. upgraded shares of Barratt Developments to a “buy” rating in a research note to investors on Monday. They now have a GBX 390 ($6.39) price target on the stock, up previously from GBX 345 ($5.65). Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Barratt Developments in a research note to investors on Monday. They now have a GBX 394 ($6.45) price target on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of GBX 383.33 ($6.28).
Barratt Developments PLC is a holding company. The Company’s principal activities consists of acquiring and developing land, planning, designing and constructing residential property developments and selling the homes it builds
goldfinger
- 09 Dec 2013 08:59
- 330 of 430
09 Dec 2013 Barratt... BDEV Deutsche Bank Buy 335.25 337.90 394.00 394.00 Reiterates
SP TARGET 394p
SP TARGET 394p
ontheturn - 09 Dec 2013 09:20 - 331 of 430
Do I see a PUMP and DUMP around since Friday
goldfinger - 09 Dec 2013 08:59 - 330 of 346
09 Dec 2013 Barratt... BDEV Deutsche Bank Buy 335.25 337.90 394.00 394.00 Reiterates
SP TARGET 394p
mechanical trader 9 Dec'13 - 08:45 - 12634 of 12634 0 0
09 Dec 2013 Barratt... BDEV Deutsche Bank Buy 335.25 337.90 394.00 394.00 Reiterates
SP TARGET 394p
goldfinger - 09 Dec 2013 08:59 - 330 of 346
09 Dec 2013 Barratt... BDEV Deutsche Bank Buy 335.25 337.90 394.00 394.00 Reiterates
SP TARGET 394p
mechanical trader 9 Dec'13 - 08:45 - 12634 of 12634 0 0
09 Dec 2013 Barratt... BDEV Deutsche Bank Buy 335.25 337.90 394.00 394.00 Reiterates
SP TARGET 394p
goldfinger
- 09 Dec 2013 10:56
- 332 of 430
You can see what you like ontherun. Rather ignorant in my opinion.
Please dont treat me like you do doodlebug, im not one to be messed with. Im no rookie.
Please dont treat me like you do doodlebug, im not one to be messed with. Im no rookie.
ontheturn - 09 Dec 2013 12:54 - 333 of 430
edited MoneyAM
goldfinger
- 09 Dec 2013 13:28
- 334 of 430
Ohhhhh is that so.
post below reported to money am management. Spreading viruses am i ??????????? Not only that threatening me aswel as poster doodle bug on the trafalgar thread.
Post for money am management.
Saved to word.
post below reported to money am management. Spreading viruses am i ??????????? Not only that threatening me aswel as poster doodle bug on the trafalgar thread.
Post for money am management.
Saved to word.
skinny
- 09 Dec 2013 13:35
- 335 of 430
goldfinger
- 09 Dec 2013 13:46
- 336 of 430
Best left for management Skinny I hope they give him a warning not just remove the offensive post.
IanT(MoneyAM)
- 10 Dec 2013 08:00
- 337 of 430
All,
we have received complaints about the personal nature of postings on this and other threads - may I remind you to steer clear of such postings. I have edited a post.
Please ALL be respectful of your fellow posters
we have received complaints about the personal nature of postings on this and other threads - may I remind you to steer clear of such postings. I have edited a post.
Please ALL be respectful of your fellow posters
goldfinger
- 10 Dec 2013 09:41
- 338 of 430
SP moving up positively.
goldfinger
- 10 Dec 2013 10:46
- 339 of 430
Broker Update.......
10 Dec 2013 Barratt... BDEV Barclays Capital Overweight 342.40 338.50 444.70 444.70 Reiterates
SP TARGET 444.70p
10 Dec 2013 Barratt... BDEV Barclays Capital Overweight 342.40 338.50 444.70 444.70 Reiterates
SP TARGET 444.70p
Shortie - 10 Dec 2013 11:14 - 340 of 430
@ 341. gone short
goldfinger
- 10 Dec 2013 14:42
- 341 of 430
Recent Broker Forecasts, suggest plenty of upside....
Barratt Developments Broker Views
Date Broker Recommendation Price Old target price New target price Notes
10 Dec Barclays Capital Overweight 343.40 444.70 444.70 Reiterates
09 Dec Deutsche Bank Buy 343.40 394.00 394.00 Reiterates
06 Dec Liberum Capital Buy 343.40 - 387.00 Reiterates
06 Dec Jefferies International Buy 343.40 435.00 474.00 Reiterates
02 Dec Citigroup Buy 343.40 345.00 390.00 Upgrades
Barratt Developments Broker Views
Date Broker Recommendation Price Old target price New target price Notes
10 Dec Barclays Capital Overweight 343.40 444.70 444.70 Reiterates
09 Dec Deutsche Bank Buy 343.40 394.00 394.00 Reiterates
06 Dec Liberum Capital Buy 343.40 - 387.00 Reiterates
06 Dec Jefferies International Buy 343.40 435.00 474.00 Reiterates
02 Dec Citigroup Buy 343.40 345.00 390.00 Upgrades
goldfinger
- 10 Dec 2013 15:36
- 342 of 430
Based on fundys I reckon these could easily be £5 come next june.
skinny
- 10 Dec 2013 15:42
- 343 of 430
From earlier :- 'Warp speed' risk for UK house prices but hiking rates off radar
(Reuters) - Expectations of future British house price rises have hit a 14-year high just as central bank chief Mark Carney signalled monetary policy would remain exceptionally loose despite the potential for them to jump at 'warp speed'.
Britain is growing faster than many other big rich economies although it has still not passed its pre-crisis peak. There are some concerns, however, that it is a housing-led recovery - and a potential bubble - spurred by government stimulus.
(Reuters) - Expectations of future British house price rises have hit a 14-year high just as central bank chief Mark Carney signalled monetary policy would remain exceptionally loose despite the potential for them to jump at 'warp speed'.
Britain is growing faster than many other big rich economies although it has still not passed its pre-crisis peak. There are some concerns, however, that it is a housing-led recovery - and a potential bubble - spurred by government stimulus.
goldfinger
- 10 Dec 2013 16:01
- 344 of 430
Still got a few months left yet skinny I reckon and traditionaly builders as you will know do well at xmas.
Shortie - 10 Dec 2013 16:43 - 345 of 430
Lets see if they can break resistence, it shall be interesting.
skinny
- 10 Dec 2013 16:52
- 346 of 430
I closed a long here today +29 - good luck if you are still in.
Shortie - 13 Dec 2013 12:09 - 347 of 430
Short closed @331.76 for a profit.
goldfinger
- 13 Dec 2013 12:11
- 348 of 430
Closed yesterday and a few others. Going back in when the santa rally kicks off.
skinny
- 18 Dec 2013 07:10
- 349 of 430
goldfinger
- 19 Dec 2013 14:24
- 350 of 430
3m
19 Dec 2013 Barratt... BDEV Deutsche Bank Buy 337.20 337.40 394.00 394.00 Reiterates SP TARGET 394p
19 Dec 2013 Barratt... BDEV Deutsche Bank Buy 337.20 337.40 394.00 394.00 Reiterates SP TARGET 394p
goldfinger
- 23 Dec 2013 08:05
- 351 of 430
23 Dec 2013 Barratt... BDEV Deutsche Bank Buy 337.90 337.90 394.00 394.00 Reiterates
SP TARGET 394p
SP TARGET 394p
goldfinger
- 31 Dec 2013 09:00
- 352 of 430
Battle Royal going on here at BDEV....I hold. (long)
goldfinger
- 02 Jan 2014 16:00
- 353 of 430
Breaking out..........
Nar1
- 02 Jan 2014 16:18
- 354 of 430
GF once again you was spot on ;)
goldfinger
- 10 Jan 2014 09:22
- 355 of 430
Cheers Nar 1.......
10 Jan 2014 Barratt... BDEV Deutsche Bank Buy 372.05 367.80 394.00 394.00 Reiterates
SP Target 394p
10 Jan 2014 Barratt... BDEV Deutsche Bank Buy 372.05 367.80 394.00 394.00 Reiterates
SP Target 394p
goldfinger
- 11 Jan 2014 11:27
- 356 of 430
Tuesday 14 January
After a quiet Monday, housebuilder Barratt Developments (BDEV) will publish a first-half trading update on Tuesday.
Analysts' expectations: "The pre-close statement, we believe, will reiterate a continued robust trading environment in terms of reservations and price and further progression in margins," comments Deutsche Bank analyst Glynis Johnson.
She forecasts a 12.1% increase in completions and a 5% rise in the average selling price. She has a 'buy' rating on Barratt due to its "strong earnings momentum potential".
Valuation: The stock is trading on a 2014 price/earnings (P/E) multiple of 13.2 times.
After a quiet Monday, housebuilder Barratt Developments (BDEV) will publish a first-half trading update on Tuesday.
Analysts' expectations: "The pre-close statement, we believe, will reiterate a continued robust trading environment in terms of reservations and price and further progression in margins," comments Deutsche Bank analyst Glynis Johnson.
She forecasts a 12.1% increase in completions and a 5% rise in the average selling price. She has a 'buy' rating on Barratt due to its "strong earnings momentum potential".
Valuation: The stock is trading on a 2014 price/earnings (P/E) multiple of 13.2 times.
goldfinger
- 11 Jan 2014 11:57
- 357 of 430
Nar1.........thanks for message. For reply you need to enable your direct message system at the side of your name, the yellow envelope needs to be showing like on my account........cheers.
Nar1
- 12 Jan 2014 19:15
- 358 of 430
Thanks GF should be ok now
skinny
- 14 Jan 2014 07:02
- 359 of 430
midknight
- 24 Jan 2014 11:28
- 360 of 430
Help to Buy news seems to have affected all housebuilders and RMV:
http://www.bbc.co.uk/news/business-25876927
http://www.bbc.co.uk/news/business-25876927
midknight
- 31 Jan 2014 12:50
- 361 of 430
31 Jan:
Jefferies reiterates: Buy - TP down fom 474p to 466p.
Deutsche reiterates : Buy - TP unchanged at 394p.
Jefferies reiterates: Buy - TP down fom 474p to 466p.
Deutsche reiterates : Buy - TP unchanged at 394p.
midknight
- 10 Feb 2014 12:28
- 362 of 430
Feb 10: Citigroup reiterates: Buy - TP unchanged: 390p.
Shortie - 11 Feb 2014 15:28 - 363 of 430
Added again to short watchlist, approaches top of upper range.
midknight
- 18 Feb 2014 12:41
- 364 of 430
Feb 18: Credit Suisse: Outperform reiteration - TP held at 451p.
Rising daily of late. TW. rising in tandem, it would seem.
Rising daily of late. TW. rising in tandem, it would seem.
midknight
- 21 Feb 2014 10:55
- 365 of 430
Feb 21:
JP Morgan Cazenove: Neutral - TP: 420p - DownGrade
Jefferies: Buy - TP: 466p - Reiteration
Deutsche: Buy - TP: 394p - Reiteration
Interims: Thursday, Feb 27.
JP Morgan Cazenove: Neutral - TP: 420p - DownGrade
Jefferies: Buy - TP: 466p - Reiteration
Deutsche: Buy - TP: 394p - Reiteration
Interims: Thursday, Feb 27.
HARRYCAT
- 21 Feb 2014 15:55
- 366 of 430
StockMarketWire.com
Equity research analysts at JP Morgan Cazenove have set out their thoughts on the UK housebuilding sector, today, and concluded that there is still room for further growth, despite outperforming the FTSE All-Share index by more than 200 per cent over the past three years. The broker anticipates an average uplift of around 9 per cent, with the potential for as much as 23 per cent under its bull case, given the ongoing improvements taking place within the housing market.
In respect of stocks under its coverage, JPMC has downgraded its recommendation on Barratt Developments (LON:BDEV) to "neutral" from "overweight" and upgraded Bovis to "neutral" from "underweight". Price targets have been increased to 420 pence (from 360 pence) and 910 pence a share (from 700 pence), respectively, after rolling its estimates forward to 2016. The broker also confirmed "overweight" recommendations on Bellway (LON:BWY), Persimmon (LON:PSN), Taylow Wimpey (LON:TW.) and Berkeley Group (LON:BKG) and highlighted upside potential of 23, 9, 12 and 6 per cent. "While we expect a base rate rise in Q1 2015, the positive outlook between now and then means we expect historical outperformance pre-rate increases to be repeated, analysts said. When a rate rise comes, we expect it to have little impact on the housing market recovery."
Equity research analysts at JP Morgan Cazenove have set out their thoughts on the UK housebuilding sector, today, and concluded that there is still room for further growth, despite outperforming the FTSE All-Share index by more than 200 per cent over the past three years. The broker anticipates an average uplift of around 9 per cent, with the potential for as much as 23 per cent under its bull case, given the ongoing improvements taking place within the housing market.
In respect of stocks under its coverage, JPMC has downgraded its recommendation on Barratt Developments (LON:BDEV) to "neutral" from "overweight" and upgraded Bovis to "neutral" from "underweight". Price targets have been increased to 420 pence (from 360 pence) and 910 pence a share (from 700 pence), respectively, after rolling its estimates forward to 2016. The broker also confirmed "overweight" recommendations on Bellway (LON:BWY), Persimmon (LON:PSN), Taylow Wimpey (LON:TW.) and Berkeley Group (LON:BKG) and highlighted upside potential of 23, 9, 12 and 6 per cent. "While we expect a base rate rise in Q1 2015, the positive outlook between now and then means we expect historical outperformance pre-rate increases to be repeated, analysts said. When a rate rise comes, we expect it to have little impact on the housing market recovery."
skinny
- 27 Feb 2014 07:12
- 367 of 430
Half Yearly Report
First half housing completions at highest level in five years
· Significant increase in output with the Group(1) responding quickly to uplift in consumer demand
· Strong, broad based recovery with higher sales rates across all areas of the country
· Continued investment in high return new development opportunities across the UK with 11,394 plots approved in the half year
· Disciplined approach has delivered significant progress on ROCE(2) at 14.2% for the 12 months to 31 December 2013
· Recruitment target for apprentices, graduates and trainees increased to 1,100 over three years
Outlook
· Very strong start to the second half with 0.76 (2013: 0.64) net private reservations per active site per week(6) over the last eight weeks
· Net private reservations up 30.2% at 0.69 (2013: 0.53) per active site per week for the financial year to date
· Total forward sales as at 23 February 2014 up by 56.2% to £1,748.1m (24 February 2013: £1,119.1m)
· Expect to deliver full year profit towards the top end of the range of current analyst estimates(7)
· Interim dividend payment of 3.2 pence per share reflecting the move to three times dividend cover, two years ahead of target. For the three years to FY16 total dividend payments expected of around £365m based on current analyst estimates(8)
more...
First half housing completions at highest level in five years
· Significant increase in output with the Group(1) responding quickly to uplift in consumer demand
· Strong, broad based recovery with higher sales rates across all areas of the country
· Continued investment in high return new development opportunities across the UK with 11,394 plots approved in the half year
· Disciplined approach has delivered significant progress on ROCE(2) at 14.2% for the 12 months to 31 December 2013
· Recruitment target for apprentices, graduates and trainees increased to 1,100 over three years
Outlook
· Very strong start to the second half with 0.76 (2013: 0.64) net private reservations per active site per week(6) over the last eight weeks
· Net private reservations up 30.2% at 0.69 (2013: 0.53) per active site per week for the financial year to date
· Total forward sales as at 23 February 2014 up by 56.2% to £1,748.1m (24 February 2013: £1,119.1m)
· Expect to deliver full year profit towards the top end of the range of current analyst estimates(7)
· Interim dividend payment of 3.2 pence per share reflecting the move to three times dividend cover, two years ahead of target. For the three years to FY16 total dividend payments expected of around £365m based on current analyst estimates(8)
more...
midknight
- 28 Feb 2014 11:03
- 368 of 430
Feb 28:
Citigroup reiterates: Buy - TP up frpm 390p to 460p
Liberum Capital reiterates Buy - TP up from 430p to 468p
Citigroup reiterates: Buy - TP up frpm 390p to 460p
Liberum Capital reiterates Buy - TP up from 430p to 468p
midknight
- 07 Mar 2014 10:54
- 369 of 430
BDEV price should rise further or even pronto, after its entry
into the FTSE 100 on 24 March, as many fund managers
obliged to buy. Marking time now, it seems!
into the FTSE 100 on 24 March, as many fund managers
obliged to buy. Marking time now, it seems!
midknight
- 12 Mar 2014 11:22
- 370 of 430
March 12: Goldman Sachs: Neutral - TP down from 527p to 502p. DownGrade
midknight
- 24 Apr 2014 10:21
- 371 of 430
April 24: Deutsche reiterates: Buy - TP held at 453p.
midknight
- 24 Apr 2014 10:35
- 372 of 430
Deutsche seems to be a big fan:
24 Apr Deutsche Bank 453.00 Buy
11 Apr Deutsche Bank 453.00 Buy
9 Apr Deutsche Bank 453.00 Buy
7 Apr Deutsche Bank 453.00 Buy
4 Apr Deutsche Bank 453.00 Buy
2 Apr Deutsche Bank 453.00 Buy
1 Apr Deutsche Bank 453.00 Buy
27 Mar Deutsche Bank 453.00 Buy
20 Mar Deutsche Bank 453.00 Buy
18 Mar Deutsche Bank 453.00 Buy
24 Apr Deutsche Bank 453.00 Buy
11 Apr Deutsche Bank 453.00 Buy
9 Apr Deutsche Bank 453.00 Buy
7 Apr Deutsche Bank 453.00 Buy
4 Apr Deutsche Bank 453.00 Buy
2 Apr Deutsche Bank 453.00 Buy
1 Apr Deutsche Bank 453.00 Buy
27 Mar Deutsche Bank 453.00 Buy
20 Mar Deutsche Bank 453.00 Buy
18 Mar Deutsche Bank 453.00 Buy
jimmy b
- 24 Apr 2014 12:07
- 373 of 430
Deutsche are the same about TW. another buy rating today but won't go up ..
skinny
- 08 May 2014 07:07
- 374 of 430
Interim Management Statement
Highlights
· Strong sales performance continues with 0.77 (2013: 0.68) net private reservations per active site per week for the period
· Net private reservations up 24.6% at 0.71 (2013: 0.57) per active site per week for the financial year to date
· Total forward sales as at 4 May 2014 up by 46.5% to £1,922.9m (5 May 2013: £1,312.3m), providing a strong position going into FY15
· Continuing to secure excellent land opportunities across all regions which meet or exceed our stringent minimum hurdle rates, and expect to approve c. 21,000 plots in FY14 (FY13: 18,536 plots)
· Confident we will deliver our FY16 ROCE(1) target of 18% significantly ahead of schedule
Highlights
· Strong sales performance continues with 0.77 (2013: 0.68) net private reservations per active site per week for the period
· Net private reservations up 24.6% at 0.71 (2013: 0.57) per active site per week for the financial year to date
· Total forward sales as at 4 May 2014 up by 46.5% to £1,922.9m (5 May 2013: £1,312.3m), providing a strong position going into FY15
· Continuing to secure excellent land opportunities across all regions which meet or exceed our stringent minimum hurdle rates, and expect to approve c. 21,000 plots in FY14 (FY13: 18,536 plots)
· Confident we will deliver our FY16 ROCE(1) target of 18% significantly ahead of schedule
midknight
- 29 May 2014 12:24
- 375 of 430
23, 28, 29 May:
Deutsche reiterates: BUY - TP as ever 453p.
Deutsche reiterates: BUY - TP as ever 453p.
skinny
- 29 May 2014 12:33
- 376 of 430
Midknight - they are consistent!
Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
28 May 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
23 May 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
16 May 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
12 May 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
09 May 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
08 May 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
30 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
25 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
24 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
11 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
09 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
07 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
04 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
02 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
01 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
27 Mar 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
20 Mar 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Retains
18 Mar 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Retains
17 Mar 14 Barratt... Deutsche Bank Buy 361.55 452.00 453.00 Retains
Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
28 May 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
23 May 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
16 May 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
12 May 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
09 May 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
08 May 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
30 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
25 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
24 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
11 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
09 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
07 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
04 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
02 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
01 Apr 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
27 Mar 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Reiterates
20 Mar 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Retains
18 Mar 14 Barratt... Deutsche Bank Buy 361.55 453.00 453.00 Retains
17 Mar 14 Barratt... Deutsche Bank Buy 361.55 452.00 453.00 Retains
HARRYCAT
- 02 Jun 2014 11:55
- 377 of 430
Goldman Sachs note:
"We upgrade our rating on Barratt Developments to Buy from Neutral.
Following a period of share price weakness – the shares are down 18% over the last 3 months – we believe current valuation does not appropriately reflect the earnings growth and improving returns we forecast. Given forward sales were reported up 47% yoy at the IMS on May 8 and the group expects to have secured more than 25% of its FY15 private sales by June 14, we believe the group is geared to the recovering UK housing market. We make no changes to our estimates or 6-month price target of 502p, which currently implies 41% potential upside.
Barratt currently trades on CY14/15 P/E multiples of 11.9x/8.1x and EV/EBITDA multiples of 8.9x/6.5x. We apply an unchanged P/E multiple of 10.2x to our CY15 EPS estimate (representing its 3 year median).
The key risks include: (1) UK housing transactions and pricing being weaker than we expect, (2) sharper and earlier interest rate increases than expected or (3) any adverse changes to regulation or government schemes for the new build sector."
"We upgrade our rating on Barratt Developments to Buy from Neutral.
Following a period of share price weakness – the shares are down 18% over the last 3 months – we believe current valuation does not appropriately reflect the earnings growth and improving returns we forecast. Given forward sales were reported up 47% yoy at the IMS on May 8 and the group expects to have secured more than 25% of its FY15 private sales by June 14, we believe the group is geared to the recovering UK housing market. We make no changes to our estimates or 6-month price target of 502p, which currently implies 41% potential upside.
Barratt currently trades on CY14/15 P/E multiples of 11.9x/8.1x and EV/EBITDA multiples of 8.9x/6.5x. We apply an unchanged P/E multiple of 10.2x to our CY15 EPS estimate (representing its 3 year median).
The key risks include: (1) UK housing transactions and pricing being weaker than we expect, (2) sharper and earlier interest rate increases than expected or (3) any adverse changes to regulation or government schemes for the new build sector."
skinny
- 27 Jun 2014 07:14
- 378 of 430
midknight
- 27 Jun 2014 09:28
- 379 of 430
June 27: Citigroup: Buy - TP: 460p.
Claret Dragon
- 27 Jun 2014 20:22
- 380 of 430
If the Banks undertake the BOE remit to restrict multiples according earnings then it will be a struggle to maintain margins at the current rate.
skinny
- 10 Jul 2014 07:03
- 381 of 430
Trading Statement
Highlights
· Significant increase in housing completions with the Group responding to uplift in consumer demand
· Average selling price growth of c. 13% for FY14 to c. £220k (2013: £194.8k) driven by increased delivery of larger homes in attractive locations and house price inflation
· Profit before tax for FY14 expected to be ahead of the top end of analysts' estimates(1) at c. £390m (2013: £192.0m before exceptionals)
· Group expected to exceed 18% ROCE(2) target in FY14 (2013: 11.5%), two years ahead of schedule
· Year end net cash balance of c. £70m (2013: net debt £25.9m)
· Total forward sales up by 44.7% at £1,200.5m (2013: £829.7m)
Highlights
· Significant increase in housing completions with the Group responding to uplift in consumer demand
· Average selling price growth of c. 13% for FY14 to c. £220k (2013: £194.8k) driven by increased delivery of larger homes in attractive locations and house price inflation
· Profit before tax for FY14 expected to be ahead of the top end of analysts' estimates(1) at c. £390m (2013: £192.0m before exceptionals)
· Group expected to exceed 18% ROCE(2) target in FY14 (2013: 11.5%), two years ahead of schedule
· Year end net cash balance of c. £70m (2013: net debt £25.9m)
· Total forward sales up by 44.7% at £1,200.5m (2013: £829.7m)
goldfinger
- 31 Jul 2014 14:37
- 382 of 430
GALVAN BEARISH ON BDEV..........
Barratt Developments (BDEV) 14/july/2014
In a Q3 trading update on May 8th,
Barratts said that increased buyer
confidence and “the availability of
attractive mortgage finance continue to
support strong consumer demand for
our homes.”
Barratt also noted that the Help to Buy
equity scheme “remains a very
attractive opportunity for our customers
and, in particular, is supporting first
time buyers."
For the reporting period, Barratt said
that 2,150 of its new home reservations
used the scheme, with a total of 14,250
units expected to complete in 2014.
Barratts have secured “excellent land
opportunities across all regions”. This
commitment to buy-and-build ties up
loads of capital, which is fine and good
so long as the housing market
continues to grow at the current rate.
The percentage of new home
reservations using ‘Help to Buy’ vs. total
completions expected for the year
currently stands at 15% and will rise
substantially. Any housing market
correction will severely impact on these
numbers, and prompt a significant
downward readjustment in forward
sales estimates.
Barratt Developments (BDEV) 14/july/2014
In a Q3 trading update on May 8th,
Barratts said that increased buyer
confidence and “the availability of
attractive mortgage finance continue to
support strong consumer demand for
our homes.”
Barratt also noted that the Help to Buy
equity scheme “remains a very
attractive opportunity for our customers
and, in particular, is supporting first
time buyers."
For the reporting period, Barratt said
that 2,150 of its new home reservations
used the scheme, with a total of 14,250
units expected to complete in 2014.
Barratts have secured “excellent land
opportunities across all regions”. This
commitment to buy-and-build ties up
loads of capital, which is fine and good
so long as the housing market
continues to grow at the current rate.
The percentage of new home
reservations using ‘Help to Buy’ vs. total
completions expected for the year
currently stands at 15% and will rise
substantially. Any housing market
correction will severely impact on these
numbers, and prompt a significant
downward readjustment in forward
sales estimates.
goldfinger
- 31 Jul 2014 14:58
- 383 of 430
More From The Galvan Report........
Many economic commentators believe
we are undergoing a phoney recovery.
Even Nationwide concedes that “real
earnings growth remains sluggish”.
What we have today is strong house
prices without earnings growth.
This is a clear indication that the UK
property market is being propped up by
government policies that ultimately just
leaves people saddled with more debt.
That’s the thing about distorting the
market, history teaches us that it ends
in tears.
Evidence supporting this comes from
many quarters, but in particular the
retail sector, and the major grocers.
Tesco, Morrisons and other retailers are
losing money and market share hand
over fist to discount chains Aldi and
Lidl.
Arguably if we were seeing evidence of
the current recovery in every corner of
the UK, the major grocery retailers
would not have seen such a downturn
in sales as households opt for cheaper
products and lower bills.
Households are about to get squeezed
even more.
Rate rises are coming… and
soon.
Many economic commentators believe
we are undergoing a phoney recovery.
Even Nationwide concedes that “real
earnings growth remains sluggish”.
What we have today is strong house
prices without earnings growth.
This is a clear indication that the UK
property market is being propped up by
government policies that ultimately just
leaves people saddled with more debt.
That’s the thing about distorting the
market, history teaches us that it ends
in tears.
Evidence supporting this comes from
many quarters, but in particular the
retail sector, and the major grocers.
Tesco, Morrisons and other retailers are
losing money and market share hand
over fist to discount chains Aldi and
Lidl.
Arguably if we were seeing evidence of
the current recovery in every corner of
the UK, the major grocery retailers
would not have seen such a downturn
in sales as households opt for cheaper
products and lower bills.
Households are about to get squeezed
even more.
Rate rises are coming… and
soon.
jimmy b
- 31 Jul 2014 16:49
- 384 of 430
I agree with some of that statement there GF ,i think that we have a false housing boom , down here in the south it's just gone stupid ,can't last ...
However i don't agree with the last piece about the supermarkets so much ,i think that Aldi and Lidl have come along and taken market share away , don't forget they have only recently become a force here , Tesco and all are now sharing their customers with two more players ,and fairly good ones at that ..
However i don't agree with the last piece about the supermarkets so much ,i think that Aldi and Lidl have come along and taken market share away , don't forget they have only recently become a force here , Tesco and all are now sharing their customers with two more players ,and fairly good ones at that ..
goldfinger
- 31 Jul 2014 17:11
- 385 of 430
One of them this week as overtaken waitrose as the 6th largest retailer in the UK.
Actualy Jimmy theirs a lot more to that report I didnt want to post it here as I look upon you all as my buddies and its a bearish article.
Ill just post the link then you can follow it up if you like.
http://www.dianomioffers.co.uk/uploads/product_4461_pdf_link.pdf
Actualy Jimmy theirs a lot more to that report I didnt want to post it here as I look upon you all as my buddies and its a bearish article.
Ill just post the link then you can follow it up if you like.
http://www.dianomioffers.co.uk/uploads/product_4461_pdf_link.pdf
jimmy b
- 31 Jul 2014 17:14
- 386 of 430
Cheers GF i'm not in this but i am in TW .
skinny
- 10 Sep 2014 07:02
- 387 of 430
Final Results
Highlights
· Significant increase in housing completions with the Group (7)responding to sustained strength in consumer demand across all areas of the country
· Private average selling price increased by 12.9% to £241,600 (2013: £213,900) driven by further changes in mix and some house price inflation
· Profit before tax more than doubled to £390.6m (2013: £192.0m before exceptional items)
· Strong cash generation resulting in net cash at 30 June 2014 of £73.1m (2013: £25.9m net debt), the first net cash position for eight years
· Continue to secure excellent land opportunities approving 21,478 plots for purchase and increased Group's controlled land supply to 4.7 years
Return on capital employed target and medium term Capital Return Plan
· ROCE up 800 basis points to 19.5% (2013: 11.5%) with new ROCE target set of at least 25% for FY17
· Ordinary dividend set at three times cover with final dividend proposed of 7.1 pence per share, giving a total ordinary dividend of 10.3 pence per share
· Special cash payment programme expected to return an incremental £400m to shareholders in the three years to FY17, with the first payment of £100m in November 2015
Outlook
· A return to more normal seasonal trends following exceptionally high levels of activity post the launch of Help to Buy in April 2013
· Private forward sales as at 7 September 2014 at £1,145.6m (2013: £880.4m) up 30.1% on the same point last year
Highlights
· Significant increase in housing completions with the Group (7)responding to sustained strength in consumer demand across all areas of the country
· Private average selling price increased by 12.9% to £241,600 (2013: £213,900) driven by further changes in mix and some house price inflation
· Profit before tax more than doubled to £390.6m (2013: £192.0m before exceptional items)
· Strong cash generation resulting in net cash at 30 June 2014 of £73.1m (2013: £25.9m net debt), the first net cash position for eight years
· Continue to secure excellent land opportunities approving 21,478 plots for purchase and increased Group's controlled land supply to 4.7 years
Return on capital employed target and medium term Capital Return Plan
· ROCE up 800 basis points to 19.5% (2013: 11.5%) with new ROCE target set of at least 25% for FY17
· Ordinary dividend set at three times cover with final dividend proposed of 7.1 pence per share, giving a total ordinary dividend of 10.3 pence per share
· Special cash payment programme expected to return an incremental £400m to shareholders in the three years to FY17, with the first payment of £100m in November 2015
Outlook
· A return to more normal seasonal trends following exceptionally high levels of activity post the launch of Help to Buy in April 2013
· Private forward sales as at 7 September 2014 at £1,145.6m (2013: £880.4m) up 30.1% on the same point last year
goldfinger
- 19 Sep 2014 09:36
- 388 of 430
House Prices Are Rising At 20 Times Wages
By Harvey Jones - Thursday, 18 September, 2014
Motley Fool.
We’re so used to frantic house price growth that we’ve come to see it as normal.
So when the Office for National Statistics (ONS) published figures this week showing UK house prices rose 11.7% in the last year, nobody blinked.
Crazy growth in London of 19.1% was similarly shrugged off. That’s just how London rolls these days.
On the same day, the ONS published the latest CPI inflation figure, which showed a slight dip to 1.5%.
I expected screaming headlines pointing out that house prices are now rising at eight times inflation, or almost 13 times in London.
Nobody seems to have noticed.
Wage Slaves
Here’s an even more astonishing figure. The ONS also published annual wage growth figures which showed that pay, including bonuses, rose a meagre 0.6% over the last year.
This means UK house prices are rising a mind-boggling 20 times faster than wages.
In London, the figure is almost 32 times faster.
This can only end one way.
20 Reasons Why House Prices Will Crash
Even more amazingly, most commentators in the property and mortgage industry actually welcomed the house price growth figures, claiming they were the sign of a healthy market.
I beg to differ. It is the sign of an insane market.
House prices simply can’t keep rising at 20 times wages.
Crazy Days
There is more growth to come. Estate agents and mortgage brokers are now gearing up for a hectic autumn, and they’re in a confident mood.
Lenders have embarked on yet another mortgage price war, as they battle to hit their lending targets before the end of the calendar year.
The property industry can smell blood, or rather money, and they’re not going to stop now.
Never Ending Mortgage
Worse, neither are buyers.
Instead of saying no to insane house prices, first-time buyers are stretching their repayment terms to as long as 35 or even 40 years, rather than the traditional 25-year term.
More than one in 10 existing homeowners are doing the same, according to figures from the Council of Mortgage Lenders.
Yes, this can cut your monthly repayments, but there is a price to pay.
If you took out a £150,000 repayment mortgage at 3.5% over 25 years, you would pay total interest of £75,282. Over 40 years, your total interest bill would be £128,923.
That’s £53,641 more.
Mortgage Madness
As Herbert Stein’s law says: “If something cannot go on forever, it will stop.”
The only question is when.
In April, the Financial Conduct Authority launched a regulatory overhaul called the Mortgage Market Review, designed to take some of the heat out of the housing market. That calmed lenders… for about a fortnight.
Bank of England measures to cut maximum loan-to-income ratios don’t appear to have slowed the beast at all.
If interest rates start rising next year, as most people assume, maybe that will put a brake on borrowing.
But even if rates do rise, and I’m not convinced they will, they will creep up only slowly. By historical standards, mortgages will remain dirt cheap.
Debt Disaster
Cheap money is the reason why house prices can outpace earnings. That makes servicing the interest much easier, but the ever-increasing amounts of capital we are borrowing to keep up must still be paid off.
No wonder household debt is going through the roof. Last year, it hit an all-time high of £1.43 trillion, according to the Bank of England.
At some point, the insane house price party will come to an end. And when it does, the hangover will be brutal. The financial crisis has taught us nothing.
By Harvey Jones - Thursday, 18 September, 2014
Motley Fool.
We’re so used to frantic house price growth that we’ve come to see it as normal.
So when the Office for National Statistics (ONS) published figures this week showing UK house prices rose 11.7% in the last year, nobody blinked.
Crazy growth in London of 19.1% was similarly shrugged off. That’s just how London rolls these days.
On the same day, the ONS published the latest CPI inflation figure, which showed a slight dip to 1.5%.
I expected screaming headlines pointing out that house prices are now rising at eight times inflation, or almost 13 times in London.
Nobody seems to have noticed.
Wage Slaves
Here’s an even more astonishing figure. The ONS also published annual wage growth figures which showed that pay, including bonuses, rose a meagre 0.6% over the last year.
This means UK house prices are rising a mind-boggling 20 times faster than wages.
In London, the figure is almost 32 times faster.
This can only end one way.
20 Reasons Why House Prices Will Crash
Even more amazingly, most commentators in the property and mortgage industry actually welcomed the house price growth figures, claiming they were the sign of a healthy market.
I beg to differ. It is the sign of an insane market.
House prices simply can’t keep rising at 20 times wages.
Crazy Days
There is more growth to come. Estate agents and mortgage brokers are now gearing up for a hectic autumn, and they’re in a confident mood.
Lenders have embarked on yet another mortgage price war, as they battle to hit their lending targets before the end of the calendar year.
The property industry can smell blood, or rather money, and they’re not going to stop now.
Never Ending Mortgage
Worse, neither are buyers.
Instead of saying no to insane house prices, first-time buyers are stretching their repayment terms to as long as 35 or even 40 years, rather than the traditional 25-year term.
More than one in 10 existing homeowners are doing the same, according to figures from the Council of Mortgage Lenders.
Yes, this can cut your monthly repayments, but there is a price to pay.
If you took out a £150,000 repayment mortgage at 3.5% over 25 years, you would pay total interest of £75,282. Over 40 years, your total interest bill would be £128,923.
That’s £53,641 more.
Mortgage Madness
As Herbert Stein’s law says: “If something cannot go on forever, it will stop.”
The only question is when.
In April, the Financial Conduct Authority launched a regulatory overhaul called the Mortgage Market Review, designed to take some of the heat out of the housing market. That calmed lenders… for about a fortnight.
Bank of England measures to cut maximum loan-to-income ratios don’t appear to have slowed the beast at all.
If interest rates start rising next year, as most people assume, maybe that will put a brake on borrowing.
But even if rates do rise, and I’m not convinced they will, they will creep up only slowly. By historical standards, mortgages will remain dirt cheap.
Debt Disaster
Cheap money is the reason why house prices can outpace earnings. That makes servicing the interest much easier, but the ever-increasing amounts of capital we are borrowing to keep up must still be paid off.
No wonder household debt is going through the roof. Last year, it hit an all-time high of £1.43 trillion, according to the Bank of England.
At some point, the insane house price party will come to an end. And when it does, the hangover will be brutal. The financial crisis has taught us nothing.
goldfinger
- 26 Sep 2014 12:05
- 389 of 430
Forget the BBC article today that was for August. They are behind.
House prices have finally started to fall after two years
After months of slowing house price growth, property prices have dropped in the capital, and stalled acrosss the UK
By Anna White, Property correspondent5:00AM BST 26 Sep 2014
House prices have fallen in London for the first time in nearly two years after a period of frenetic hikes in value, as demand in the capital finally dissipates.
"Modest” price drops in the London market are to be expected to follow this month's 0.1pc decline, according to the latest Hometrack report, as buyers reject inflated prices and force vendors to slash their expectations.
London suffered the most pronounced slowdown but overall the UK house prices stalled, recording zero growth for the first time in 19 months.
The combination of over-inflated prices, slow wage growth, stricter mortgage lending conditions and anxiety ahead of interest rate rises has put the brakes on the London market and stalled the housing market recovery across the majority of the country.
The only regions that enjoyed a slight uptick were Yorkshire and Humberside, the South East and the North East. The national survey by Hometrack found that values in all other areas were flat.
Demand for homes nationally fell by 2.1pc in September and the number of buyers registering with agents every month this quarter.
September normally marks a seasonal uptick in activity but the time it took to sell as home in the UK remained static from August.
“There is a distinct chill in the air this month; after a strong run over the last 18 months, the momentum of house prices rises has started to turn with growth now at a standstill for the first time since January 2013,” said Richard Donnell, director of research at Hometrack.
This correction, particularly in the London market, will help allay fears that prices in the capital would continue to rise uncontrollably, making the dream of homeownership unobtainable for many.
The average house price in Greater London breached the £500,000 ceiling last month, automatically imposing a 4pc stamp duty tax on families and workers across the region.
Hometrack’s new data came as a YouGov poll revealed that half of all Londoners polled believed they would flee the city if housing costs continued to climb
The study, conducted by the leading market research company for London First, a not-for-profit business lobby, warned that the capital faces a chronic housing supply crisis that could drive people away.
The majority of employees surveyed, 56pc, find it difficult to pay rent or mortgages costs and work in London.
For employees, £70,000 was the magic number to living comfortably in the city. The survey revealed that those earning over that amount found it easy to service mortgages and rents.
However, two out of five businesses surveyed said they are already concerned about the impact that London’s housing supply and costs are having on their ability to recruit and retain staff, while three quarters warned that a lack of supply and costs are a “significant risk to the capital’s economic growth.”
“London is a magnet for talent, no matter people’s background and means, is what keeps it ahead of the game,” said Baroness Jo Valentine, chief executive of London First.
“Our research lays bare the economic dangers of the housing crisis, particularly in terms of losing crucial skills of those aged 25-39, who find it the most difficult to live and work in the city.”
London should be a city for everyone with talent, not just those who can afford sky-high rent or mortgage costs, she continued.
Concerned that this dip in London’s price trajectory is temporary, she said: “We could be storing up major problems for the capital if we don’t address this. There will come a time when people will not keep travelling across counties and continents to make London the vibrant world city it is if they can only afford to live in a box or have to travel hours to get to work.”
Both these reports follow research from the property group, Savills, which came out earlier this week, and found that London had overtaken Hong Kong as the world’s most expensive cities for companies to settle in and locate employees.
Daily Telegraph.
BDEV with operating margins on 13BPS will be the first builder to feel the pinch. There margins are the lowest in the business.
House prices have finally started to fall after two years
After months of slowing house price growth, property prices have dropped in the capital, and stalled acrosss the UK
By Anna White, Property correspondent5:00AM BST 26 Sep 2014
House prices have fallen in London for the first time in nearly two years after a period of frenetic hikes in value, as demand in the capital finally dissipates.
"Modest” price drops in the London market are to be expected to follow this month's 0.1pc decline, according to the latest Hometrack report, as buyers reject inflated prices and force vendors to slash their expectations.
London suffered the most pronounced slowdown but overall the UK house prices stalled, recording zero growth for the first time in 19 months.
The combination of over-inflated prices, slow wage growth, stricter mortgage lending conditions and anxiety ahead of interest rate rises has put the brakes on the London market and stalled the housing market recovery across the majority of the country.
The only regions that enjoyed a slight uptick were Yorkshire and Humberside, the South East and the North East. The national survey by Hometrack found that values in all other areas were flat.
Demand for homes nationally fell by 2.1pc in September and the number of buyers registering with agents every month this quarter.
September normally marks a seasonal uptick in activity but the time it took to sell as home in the UK remained static from August.
“There is a distinct chill in the air this month; after a strong run over the last 18 months, the momentum of house prices rises has started to turn with growth now at a standstill for the first time since January 2013,” said Richard Donnell, director of research at Hometrack.
This correction, particularly in the London market, will help allay fears that prices in the capital would continue to rise uncontrollably, making the dream of homeownership unobtainable for many.
The average house price in Greater London breached the £500,000 ceiling last month, automatically imposing a 4pc stamp duty tax on families and workers across the region.
Hometrack’s new data came as a YouGov poll revealed that half of all Londoners polled believed they would flee the city if housing costs continued to climb
The study, conducted by the leading market research company for London First, a not-for-profit business lobby, warned that the capital faces a chronic housing supply crisis that could drive people away.
The majority of employees surveyed, 56pc, find it difficult to pay rent or mortgages costs and work in London.
For employees, £70,000 was the magic number to living comfortably in the city. The survey revealed that those earning over that amount found it easy to service mortgages and rents.
However, two out of five businesses surveyed said they are already concerned about the impact that London’s housing supply and costs are having on their ability to recruit and retain staff, while three quarters warned that a lack of supply and costs are a “significant risk to the capital’s economic growth.”
“London is a magnet for talent, no matter people’s background and means, is what keeps it ahead of the game,” said Baroness Jo Valentine, chief executive of London First.
“Our research lays bare the economic dangers of the housing crisis, particularly in terms of losing crucial skills of those aged 25-39, who find it the most difficult to live and work in the city.”
London should be a city for everyone with talent, not just those who can afford sky-high rent or mortgage costs, she continued.
Concerned that this dip in London’s price trajectory is temporary, she said: “We could be storing up major problems for the capital if we don’t address this. There will come a time when people will not keep travelling across counties and continents to make London the vibrant world city it is if they can only afford to live in a box or have to travel hours to get to work.”
Both these reports follow research from the property group, Savills, which came out earlier this week, and found that London had overtaken Hong Kong as the world’s most expensive cities for companies to settle in and locate employees.
Daily Telegraph.
BDEV with operating margins on 13BPS will be the first builder to feel the pinch. There margins are the lowest in the business.
skinny
- 12 Nov 2014 07:15
- 390 of 430
Interim Management Statement
On track to deliver another significant improvement in performance
Highlights
· Market conditions remain robust across all regions of the country
· Group sales rate is strong and we are on track to deliver our target of 15,000 completions (excluding joint ventures ('JVs')) for FY15
· Net private reservations per active site per week (excluding JVs) of 0.63 (2013: 0.71) for the period, with the strength in the prior year reflecting the launch of Help to Buy in April 2013
· Private forward sales up 11.9% to £1,261.6m (2013: £1,127.4m) and JV private forward sales, which largely relate to our London business, up 49.7% to £293.1m (2013: £195.8m)
· Continued momentum on pricing driven by further mix changes, and some underlying house price inflation
· Continue to secure excellent land opportunities
On track to deliver another significant improvement in performance
Highlights
· Market conditions remain robust across all regions of the country
· Group sales rate is strong and we are on track to deliver our target of 15,000 completions (excluding joint ventures ('JVs')) for FY15
· Net private reservations per active site per week (excluding JVs) of 0.63 (2013: 0.71) for the period, with the strength in the prior year reflecting the launch of Help to Buy in April 2013
· Private forward sales up 11.9% to £1,261.6m (2013: £1,127.4m) and JV private forward sales, which largely relate to our London business, up 49.7% to £293.1m (2013: £195.8m)
· Continued momentum on pricing driven by further mix changes, and some underlying house price inflation
· Continue to secure excellent land opportunities
Fred1new
- 02 Dec 2014 14:46
- 391 of 430
FTSE promotion.
The winners
Barratt had previously been promoted to the FTSE 100 back in March this year, but was muscled out at the September review by the merger of mid caps Dixons Retail and Carphone Warehouse into the heavier-weight Dixons Carphone.
However, a 27% rise in Barratt's shares since September has put the company in line for a quick return to the top index. Despite the rise, Barratt trades on a modest forecast P/E of not much above 10 at a current price of 460p.
Taylor Wimpey's shares -- currently trading at 134p -- are up 18% since September.
The company, which was one of the hardest hit stocks during the recession, is set to rejoin the FTSE 100 after an absence of more than six years. Taylor Wimpey, too, is on a modest forecast P/E in the region of 10.
========
Peg .38
The winners
Barratt had previously been promoted to the FTSE 100 back in March this year, but was muscled out at the September review by the merger of mid caps Dixons Retail and Carphone Warehouse into the heavier-weight Dixons Carphone.
However, a 27% rise in Barratt's shares since September has put the company in line for a quick return to the top index. Despite the rise, Barratt trades on a modest forecast P/E of not much above 10 at a current price of 460p.
Taylor Wimpey's shares -- currently trading at 134p -- are up 18% since September.
The company, which was one of the hardest hit stocks during the recession, is set to rejoin the FTSE 100 after an absence of more than six years. Taylor Wimpey, too, is on a modest forecast P/E in the region of 10.
========
Peg .38
skinny
- 14 Jan 2015 07:02
- 392 of 430
skinny
- 19 Feb 2015 12:07
- 393 of 430
Interim results Wednesday 25th February.
skinny
- 25 Feb 2015 07:02
- 394 of 430
Half Yearly Report
First half housing completions at highest level in six years
· Completion volumes(1) increased by 12.5%
· Significant step up in the rate of site openings, with nearly 100 new sites (including JVs) opened in the half year
· Build cost pressures moderated as the supply of materials and labour increased
· Land market remains attractive with good supply of high quality new development opportunities
· Disciplined approach has increased ROCE(2) by 740 basis points to 21.6% for the 12 months to 31 December 2014
First half housing completions at highest level in six years
· Completion volumes(1) increased by 12.5%
· Significant step up in the rate of site openings, with nearly 100 new sites (including JVs) opened in the half year
· Build cost pressures moderated as the supply of materials and labour increased
· Land market remains attractive with good supply of high quality new development opportunities
· Disciplined approach has increased ROCE(2) by 740 basis points to 21.6% for the 12 months to 31 December 2014
midknight
- 27 Mar 2015 10:13
- 395 of 430
HARRYCAT
- 10 Apr 2015 10:43
- 396 of 430
Jefferies International lifts Barratt Developments to hold from underperform, target raised from 379p to 567p
skinny
- 10 Apr 2015 10:47
- 397 of 430
Well done Jefferies - not bad seeing as the price is nearly there!!
jimmy b
- 10 Apr 2015 10:56
- 398 of 430
I just posted about broker targets on the MONI thread .....seriously take some charts and prices in to an infant school and let them set targets .
My professional target view for today is 558p , oops that's exactly where it is .
My professional target view for today is 558p , oops that's exactly where it is .
skinny
- 13 May 2015 07:02
- 399 of 430
Interim Management Statement
Strong market conditions - increased output levels and record forward sales
· Market conditions have remained strong throughout the period with high levels of demand for new build homes across the country
· Net private reservations per week increased to 289 (2014: 280) for the period with a sales rate of 0.74 (2014: 0.77) net private reservations per active site per week
· Housing completions for FY15 expected to be ahead of previous guidance at c. 16,100 (FY14: 14,838) (including joint ventures ('JVs'))
· Total forward sales (including JVs) up by 17.9% as at 10 May 2015 to £2,592.3m (11 May 2014: £2,199.3m)
· Launched 64 new developments in the period and expect to deliver further controlled volume growth in FY16
· Continue to secure excellent operational and strategic land opportunities across all regions which meet or exceed our minimum hurdle rates
Strong market conditions - increased output levels and record forward sales
· Market conditions have remained strong throughout the period with high levels of demand for new build homes across the country
· Net private reservations per week increased to 289 (2014: 280) for the period with a sales rate of 0.74 (2014: 0.77) net private reservations per active site per week
· Housing completions for FY15 expected to be ahead of previous guidance at c. 16,100 (FY14: 14,838) (including joint ventures ('JVs'))
· Total forward sales (including JVs) up by 17.9% as at 10 May 2015 to £2,592.3m (11 May 2014: £2,199.3m)
· Launched 64 new developments in the period and expect to deliver further controlled volume growth in FY16
· Continue to secure excellent operational and strategic land opportunities across all regions which meet or exceed our minimum hurdle rates
midknight
- 26 May 2015 10:16
- 400 of 430
May 26: Deutsche; Buy and raises TP to 659p
cynic
- 28 May 2015 13:36
- 401 of 430
sold my recent purchase of this one for a very nice profit as sp is looking a bit toppy
i'm sure i'll be re-investing in due course, but i think the market in general could be due for some correction, especially with the summer doldrums nearly upon us
i'm sure i'll be re-investing in due course, but i think the market in general could be due for some correction, especially with the summer doldrums nearly upon us
midknight
- 03 Jun 2015 09:53
- 402 of 430
June 3: JP Morgan: Overweight - TP: 650p
skinny
- 09 Jul 2015 07:54
- 403 of 430
Interim Management Statement
Highlights
· Total completions, including joint ventures ('JVs'), increased by 10.8% to 16,447 (2014: 14,838) reflecting strong consumer demand and increased site numbers
· Private average selling price up by c. 8% to c. £262k (2014: £241.6k), driven by further changes in mix and underlying house price inflation
· Profit before tax expected to increase by c. 45% to c. £565m (2014: £390.6m)
· Return on capital employed ('ROCE')(1) increased by c. 430 basis points to c. 23.8% (2014: 19.5%)
Highlights
· Total completions, including joint ventures ('JVs'), increased by 10.8% to 16,447 (2014: 14,838) reflecting strong consumer demand and increased site numbers
· Private average selling price up by c. 8% to c. £262k (2014: £241.6k), driven by further changes in mix and underlying house price inflation
· Profit before tax expected to increase by c. 45% to c. £565m (2014: £390.6m)
· Return on capital employed ('ROCE')(1) increased by c. 430 basis points to c. 23.8% (2014: 19.5%)
skinny
- 09 Sep 2015 07:13
- 404 of 430
Final Results
Highlights
· Significant increase in housing completions with the Group4 responding to strong consumer demand across all regions
· Private average selling price increased by 8.7% to £262,500 (2014: £241,600) driven by further changes in mix and house price inflation
· Profit before tax increased by 44.8% to £565.5m (2014: £390.6m)
· ROCE up 440 basis points to 23.9% (2014: 19.5%)
· Strong cash generation resulting in net cash at 30 June 2015 of £186.5m (2014: £73.1m)
· Continued to secure excellent land opportunities, approving 16,956 plots for purchase and maintained a controlled land supply of 4.5 years
· Significant step up in the delivery of strategic land with 17% of FY15 (FY14: 10%) completions from strategically sourced land
Record cash returns
· Total FY15 capital return of £250m (2014: £102m), equating to 25.1 pence per share (2014: 10.3 pence per share)
Highlights
· Significant increase in housing completions with the Group4 responding to strong consumer demand across all regions
· Private average selling price increased by 8.7% to £262,500 (2014: £241,600) driven by further changes in mix and house price inflation
· Profit before tax increased by 44.8% to £565.5m (2014: £390.6m)
· ROCE up 440 basis points to 23.9% (2014: 19.5%)
· Strong cash generation resulting in net cash at 30 June 2015 of £186.5m (2014: £73.1m)
· Continued to secure excellent land opportunities, approving 16,956 plots for purchase and maintained a controlled land supply of 4.5 years
· Significant step up in the delivery of strategic land with 17% of FY15 (FY14: 10%) completions from strategically sourced land
Record cash returns
· Total FY15 capital return of £250m (2014: £102m), equating to 25.1 pence per share (2014: 10.3 pence per share)
Chris Carson
- 11 Nov 2015 07:46
- 405 of 430
HARRYCAT
- 11 Nov 2015 07:54
- 406 of 430
Wrong thread CC!!! Might want to delete all of that!
Chris Carson
- 11 Nov 2015 08:00
- 407 of 430
Sorry!
Chris Carson
- 11 Nov 2015 08:04
- 408 of 430
Sales well ahead at Barratt Developments
StockMarketWire.com
Barratt Developments has reported that market conditions remain strong, with high levels of consumer demand across all regions.
Net private reservations per week increased by 12.5% to 261 (2014: 232) since the start of July with a sales rate of 0.70 (2014: 0.63) net private reservations per active site per week.
Total forward sales (including joint ventures (���JVs��")) are up by 20.7% to £2,499.7m (2014: £2,071.7m).
The company says that to address the need for additional skilled labour, it has recruited 250 graduates, trainees and apprentices for next year.
As previously announced, the Board has proposed a record dividend payment of over £200m.
David Thomas, chief executive commented: ��SAgainst the backdrop of a significant structural shortage of new homes in Britain, we have made a strong start to the year.
"Operationally the business is performing well with strong sales, good control of input costs and continued land investment. Our targeted recruitment programme has delivered a further 250 new apprentices, graduates and trainees to the business.
"With our disciplined strategy and focus on achieving efficiencies across the business, we are on track to deliver further good progress in FY16. The outlook is positive and we are driving towards our FY17 targets of at least a 20% gross margin and at least a 25% return on capital employed.⬝
StockMarketWire.com
Barratt Developments has reported that market conditions remain strong, with high levels of consumer demand across all regions.
Net private reservations per week increased by 12.5% to 261 (2014: 232) since the start of July with a sales rate of 0.70 (2014: 0.63) net private reservations per active site per week.
Total forward sales (including joint ventures (���JVs��")) are up by 20.7% to £2,499.7m (2014: £2,071.7m).
The company says that to address the need for additional skilled labour, it has recruited 250 graduates, trainees and apprentices for next year.
As previously announced, the Board has proposed a record dividend payment of over £200m.
David Thomas, chief executive commented: ��SAgainst the backdrop of a significant structural shortage of new homes in Britain, we have made a strong start to the year.
"Operationally the business is performing well with strong sales, good control of input costs and continued land investment. Our targeted recruitment programme has delivered a further 250 new apprentices, graduates and trainees to the business.
"With our disciplined strategy and focus on achieving efficiencies across the business, we are on track to deliver further good progress in FY16. The outlook is positive and we are driving towards our FY17 targets of at least a 20% gross margin and at least a 25% return on capital employed.⬝
Stan
- 13 Jan 2016 07:40
- 409 of 430
Trading statement http://www.moneyam.com/action/news/showArticle?id=5191943
jimmy b
- 24 Feb 2016 08:37
- 410 of 430
Barratt hikes divi as op. profits rise
StockMarketWire.com
Barratt Developments reports a strong first half with total completions - including joint ventures - up 9.4% at 7,626 and operating profits up 34.7% at GBP301.8m.
And the group reports a strong start to the second half with 260 (2015: 279) net private reservations per week at a rate of 0.71 (2015: 0.71) net private reservations per active site per week. Total forward sales including JVs as at 21 February up by 13.4% to �2,579.5m (22 February 2015: �2,275.3m).
Profit before tax increased by 40.3% to �295.0m, gross margin improved by 1.2 percentage points to 18.6% and operating margin improved by 1.9 percentage points to 16.1%. ROCE for the 12 months to 31 December 2015 was up by 3.9 percentage points to 25.5% showing in part the results of actions to improve returns, as well as being boosted by a high level of completions (including JVs) in the calendar year of 17,102 (2014: 15,614).
The interim dividend of 6.0p per share is up 25% on last time.
StockMarketWire.com
Barratt Developments reports a strong first half with total completions - including joint ventures - up 9.4% at 7,626 and operating profits up 34.7% at GBP301.8m.
And the group reports a strong start to the second half with 260 (2015: 279) net private reservations per week at a rate of 0.71 (2015: 0.71) net private reservations per active site per week. Total forward sales including JVs as at 21 February up by 13.4% to �2,579.5m (22 February 2015: �2,275.3m).
Profit before tax increased by 40.3% to �295.0m, gross margin improved by 1.2 percentage points to 18.6% and operating margin improved by 1.9 percentage points to 16.1%. ROCE for the 12 months to 31 December 2015 was up by 3.9 percentage points to 25.5% showing in part the results of actions to improve returns, as well as being boosted by a high level of completions (including JVs) in the calendar year of 17,102 (2014: 15,614).
The interim dividend of 6.0p per share is up 25% on last time.
Stan
- 16 Mar 2016 15:40
- 411 of 430
Black Rock Inc. go above 5%: http://www.moneyam.com/InvestorsRoom/posts.php?tid=13208#lastread
mentor - 19 Apr 2016 17:53 - 412 of 430
Are Housebuilders Persimmon plc, Barratt Developments plc & The Berkeley Group Holdings plc’s 12%+ Falls Offering Investors Another Opportunity?
Thursday 23 June ticks ever closer to what could prove to be the most important decision that the people of this country make in a lifetime - whether to remain a member of or leave the European Union.
The result of the vote, I suspect will have a significant effect on FTSE 100. Whether that's positive or negative will depend on which way the vote goes on the day. However, much like the UK's General Election last year, I think that the results are just too close to call.
Short-term opportunity?
There's no doubt that the fast approaching referendum is causing a great deal of uncertainty with many individual stocks. As we can see from the below chart, the three shares under review today have all been negatively impacted by the economic uncertainty events like this can cause.
Most notable is London-focused Berkeley Group
The UK's main exchange for buying and selling shares in public limited companies.
LSE:BKG) with the shares losing 20% over the last three months. That seems rather strange for a business, which in March informed the market that earnings for the year ending June 2016 would be at the top end of analyst expectations. Indeed, if this was a share in a different sector then I think it would be safe to say that the shares would have rerated.
This theme holds true with both Persimmon (LSE:PSN) and Barratt Developments (LSE:BDEV) too, with both companies reporting general consumer confidence supported by a growing economy and good availability of credit.
When these factors combine with other positive trends the outcome is a positive trading environment. So to me, the downward movement in the share price for all of these housebuilders is more down to sentiment than current trading. The uncertainty of an out vote, and more importantly the concern of the effect this would have on consumer confidence, are both impacting the shares.
Longer term gain?
Turning to the longer-term three-year chart (which allows us to relax a little more as some of the price swings that come with owning shares don't look quite as scary) and we can see that all three companies have outperformed the FTSE 100 benchmark by some margin.
Indeed, it's interesting to see that these shares are either at or approaching the level where they stood prior to the 7 May General Election. If you cast your mind back 12 months you'll recall the prospect of a hung parliament, a proposed mansion tax and uncertainty surrounding the help-to-buy scheme
As it turned out, the Conservatives gained a majority and as the chart showed the housebuilders enjoyed a particularly strong rally
Upgraded dividend appeal
As readers who are familiar with my articles will already be aware, I'm a big fan of dividends. I find that this can have a positive effect on company management by providing an anchor to the board, so that they remain disciplined in the allocation of my capital.
And to me it seems that this theme is continuing with all the businesses promising to return excess capital to shareholders.
With the current share price falls, investors who buy now can expect yields of between 6% and 7% - although it may be wise to wait and see whether we wish to remain in Europe first.
Thursday 23 June ticks ever closer to what could prove to be the most important decision that the people of this country make in a lifetime - whether to remain a member of or leave the European Union.
The result of the vote, I suspect will have a significant effect on FTSE 100. Whether that's positive or negative will depend on which way the vote goes on the day. However, much like the UK's General Election last year, I think that the results are just too close to call.
Short-term opportunity?
There's no doubt that the fast approaching referendum is causing a great deal of uncertainty with many individual stocks. As we can see from the below chart, the three shares under review today have all been negatively impacted by the economic uncertainty events like this can cause.
Most notable is London-focused Berkeley Group
The UK's main exchange for buying and selling shares in public limited companies.
LSE:BKG) with the shares losing 20% over the last three months. That seems rather strange for a business, which in March informed the market that earnings for the year ending June 2016 would be at the top end of analyst expectations. Indeed, if this was a share in a different sector then I think it would be safe to say that the shares would have rerated.
This theme holds true with both Persimmon (LSE:PSN) and Barratt Developments (LSE:BDEV) too, with both companies reporting general consumer confidence supported by a growing economy and good availability of credit.
When these factors combine with other positive trends the outcome is a positive trading environment. So to me, the downward movement in the share price for all of these housebuilders is more down to sentiment than current trading. The uncertainty of an out vote, and more importantly the concern of the effect this would have on consumer confidence, are both impacting the shares.
Longer term gain?
Turning to the longer-term three-year chart (which allows us to relax a little more as some of the price swings that come with owning shares don't look quite as scary) and we can see that all three companies have outperformed the FTSE 100 benchmark by some margin.
Indeed, it's interesting to see that these shares are either at or approaching the level where they stood prior to the 7 May General Election. If you cast your mind back 12 months you'll recall the prospect of a hung parliament, a proposed mansion tax and uncertainty surrounding the help-to-buy scheme
As it turned out, the Conservatives gained a majority and as the chart showed the housebuilders enjoyed a particularly strong rally
Upgraded dividend appeal
As readers who are familiar with my articles will already be aware, I'm a big fan of dividends. I find that this can have a positive effect on company management by providing an anchor to the board, so that they remain disciplined in the allocation of my capital.
And to me it seems that this theme is continuing with all the businesses promising to return excess capital to shareholders.
With the current share price falls, investors who buy now can expect yields of between 6% and 7% - although it may be wise to wait and see whether we wish to remain in Europe first.
hlyeo98 - 06 Jul 2016 19:29 - 413 of 430
The number of British property funds suspended following the country's vote to leave the EU doubled to six on Wednesday, leaving 15 billion pounds ($19.4 billion) frozen in the biggest seizing up of investment funds since the 2008 financial crisis.
The funds pulled down the shutters after a wave of investors asked for their money back amid speculation about a possible drop in commercial property prices in reaction to the result of the June 23 referendum.
That in turn has raised concerns about the outlook for the broader financial system, given the risk of investors bailing out of other asset classes in a panic and of lenders to the sector such as banks suffering fresh balance sheet stress.
Henderson Global Investors, part of Henderson Group , said on Wednesday it had temporarily suspended trading in its 3.9 billion pound UK Property PAIF and PAIF feeder funds due to "exceptional liquidity pressures" given uncertainty after the Brexit vote and the other suspensions.
It was followed within the hour by Columbia Threadneedle, part of the Ameriprise Group, which said it had suspended trading in its Threadneedle UK Property Fund.
Canada Life said it had also suspended its Canlife Property and Canlife UK property funds, describing this as a deferral of requests to withdraw investments. "The deferral can be for up to six months, enabling the funds to ensure property values reflect market conditions," it said in a statement.
They joined rival funds managed by M&G Investments, Aviva Investors and Standard Life Investments which suspended trading on Monday and Tuesday.
"Over half of the property fund sector is now on ice, and will remain so until managers raise enough cash to meet redemptions. To do that they need to sell properties, and as any homeowner knows, that is not a quick or painless procedure," said Laith Khalaf, senior analyst at fund supermarket Hargreaves Lansdown.
"These funds are therefore likely to be closed for weeks and months rather than simply a matter of days," he wrote in a note to clients.
Britain's Financial Ombudsman Service said it had begun to receive calls from retail investors worried about the closures and the potential hit to their savings. "Although the decision to suspend redemptions was expected, the extent of the suspensions by the three funds so far is quite troubling," a spokeswoman said shortly before Wednesday's fund announcements.
Keenan Vyas, Director in the Real Estate Advisory Group at Duff & Phelps in London, said the consequences could be profound.
The funds pulled down the shutters after a wave of investors asked for their money back amid speculation about a possible drop in commercial property prices in reaction to the result of the June 23 referendum.
That in turn has raised concerns about the outlook for the broader financial system, given the risk of investors bailing out of other asset classes in a panic and of lenders to the sector such as banks suffering fresh balance sheet stress.
Henderson Global Investors, part of Henderson Group , said on Wednesday it had temporarily suspended trading in its 3.9 billion pound UK Property PAIF and PAIF feeder funds due to "exceptional liquidity pressures" given uncertainty after the Brexit vote and the other suspensions.
It was followed within the hour by Columbia Threadneedle, part of the Ameriprise Group, which said it had suspended trading in its Threadneedle UK Property Fund.
Canada Life said it had also suspended its Canlife Property and Canlife UK property funds, describing this as a deferral of requests to withdraw investments. "The deferral can be for up to six months, enabling the funds to ensure property values reflect market conditions," it said in a statement.
They joined rival funds managed by M&G Investments, Aviva Investors and Standard Life Investments which suspended trading on Monday and Tuesday.
"Over half of the property fund sector is now on ice, and will remain so until managers raise enough cash to meet redemptions. To do that they need to sell properties, and as any homeowner knows, that is not a quick or painless procedure," said Laith Khalaf, senior analyst at fund supermarket Hargreaves Lansdown.
"These funds are therefore likely to be closed for weeks and months rather than simply a matter of days," he wrote in a note to clients.
Britain's Financial Ombudsman Service said it had begun to receive calls from retail investors worried about the closures and the potential hit to their savings. "Although the decision to suspend redemptions was expected, the extent of the suspensions by the three funds so far is quite troubling," a spokeswoman said shortly before Wednesday's fund announcements.
Keenan Vyas, Director in the Real Estate Advisory Group at Duff & Phelps in London, said the consequences could be profound.
cynic
- 06 Jul 2016 21:44
- 414 of 430
it shouldn't but most definitely will affect the residential sector, both in shares and the real world
HARRYCAT
- 13 Jul 2016 07:33
- 415 of 430
StockMarketWire.com
Barratt Developments expects profit before tax for the year ended 30 June to increase by around 20% to c.£680m, in line with market forecasts (2015: £565.5m) after another strong performance.
Total completions, including joint ventures increased by 5.3% to 17,319 (2015: 16,447), as a result of strong consumer demand during the financial year.
Other highlights:
- Year end net cash balance of c. £590m (2015: £186.5m), ahead of expectations, driven by completion volumes and the timing of land payments
- Return on capital employed ('ROCE')(2) increased by c. 3 percentage points to c. 27% (2015: 23.9%) reflecting our fast asset turn model
Chief executive David Thomas said: "We have delivered another strong performance for the year. The disciplined growth in completion volumes reflects the strength of our sector leading build and sales teams.
"Following the EU referendum, it is too early to say what the impact of the uncertainty facing the UK economy will be. The sector continues to receive focused government support, mortgage availability is good and there remains an undersupply of new homes. With a strong balance sheet and forward order book, and industry leading quality and customer service, we remain confident in the positive fundamentals of both the housing sector and our business."
The group says it has traded well throughout the financial year, delivering a strong performance.
An update says: "We saw good consumer demand across our regions, with some increased uncertainty in the higher value London market. During the year, the mortgage market remained positive, with increased competition amongst lenders and new market entrants resulting in good availability of attractive mortgage finance for our customers." Total completions (including JVs) for FY16 were up 5.3% at 17,319 (2015: 16,447) units. Affordable housing represented 17% (2015: 18%) of total completions.
Total ASP on completions in the year increased by c. 10.6% to c. £260k (2015: £235.0k), with private ASP increasing by c. 10.5% to c. £290k (2015: £262.5k). The year on year increase predominantly reflects mix changes.
The sales rate for FY16 was 0.69 (2015: 0.64) net private reservations per active outlet per week, with a sales rate in the second half of 0.72 (2015: 0.70) net private reservations per active outlet per week. During the year, we operated from an average of 365 active outlets (2015: 380). JVs have performed well and the group's share of profits from JVs in FY16 is expected to increase to c. £72m (2015: £45.4m). As at 30 June 2016 it was selling from 11 (2015: 16) JV outlets.
Barratt Developments expects profit before tax for the year ended 30 June to increase by around 20% to c.£680m, in line with market forecasts (2015: £565.5m) after another strong performance.
Total completions, including joint ventures increased by 5.3% to 17,319 (2015: 16,447), as a result of strong consumer demand during the financial year.
Other highlights:
- Year end net cash balance of c. £590m (2015: £186.5m), ahead of expectations, driven by completion volumes and the timing of land payments
- Return on capital employed ('ROCE')(2) increased by c. 3 percentage points to c. 27% (2015: 23.9%) reflecting our fast asset turn model
Chief executive David Thomas said: "We have delivered another strong performance for the year. The disciplined growth in completion volumes reflects the strength of our sector leading build and sales teams.
"Following the EU referendum, it is too early to say what the impact of the uncertainty facing the UK economy will be. The sector continues to receive focused government support, mortgage availability is good and there remains an undersupply of new homes. With a strong balance sheet and forward order book, and industry leading quality and customer service, we remain confident in the positive fundamentals of both the housing sector and our business."
The group says it has traded well throughout the financial year, delivering a strong performance.
An update says: "We saw good consumer demand across our regions, with some increased uncertainty in the higher value London market. During the year, the mortgage market remained positive, with increased competition amongst lenders and new market entrants resulting in good availability of attractive mortgage finance for our customers." Total completions (including JVs) for FY16 were up 5.3% at 17,319 (2015: 16,447) units. Affordable housing represented 17% (2015: 18%) of total completions.
Total ASP on completions in the year increased by c. 10.6% to c. £260k (2015: £235.0k), with private ASP increasing by c. 10.5% to c. £290k (2015: £262.5k). The year on year increase predominantly reflects mix changes.
The sales rate for FY16 was 0.69 (2015: 0.64) net private reservations per active outlet per week, with a sales rate in the second half of 0.72 (2015: 0.70) net private reservations per active outlet per week. During the year, we operated from an average of 365 active outlets (2015: 380). JVs have performed well and the group's share of profits from JVs in FY16 is expected to increase to c. £72m (2015: £45.4m). As at 30 June 2016 it was selling from 11 (2015: 16) JV outlets.
HARRYCAT
- 27 Jul 2016 15:22
- 416 of 430
HARRYCAT
- 12 Aug 2016 11:03
- 417 of 430
Another gap (as per TW.) which would be nice to see closed!
HARRYCAT
- 07 Sep 2016 08:04
- 418 of 430
StockMarketWire.com
Barratt Developments reports a strong operational and financial performance for the year to the end of June and a positive start to the new financial year.
The group reports a record profit before tax of £682.3m, up 20.7% on the prior year (2015: £565.5m), and its highest ROCE in ten years at 27.1% (2015: 23.9%). It also said it had significantly strengthened its balance sheet, ending the year with net cash of £592.0m.
Highlights
- Disciplined growth in housing completions, delivering the highest total in eight years
- Private average selling price increased by 10.4% to £289,800 (2015: £262,500), predominantly reflecting mix
- Strong growth in profit before tax, up by 20.7% to £682.3m (2015: £565.5m)
- ROCE up 3.2 ppts to 27.1% (2015: 23.9%), reflecting the group's fast asset turn model
- Positive cash generation resulting in strong balance sheet and net cash at 30 June 2016 of £592.0m (2015: £186.5m)
- Excellent future land opportunities secured with 24,387 plots approved for purchase; controlled land supply of 4.5 years at year end
- Step up in the delivery of strategic land with 22% (2015: 17%) of completions from strategic land
- 19% increase in final ordinary dividend per share to 12.3p (2015: 10.3p) together with 12.4p special dividend per share
- Total FY165 capital return of £308m (2015: £250m), equating to 30.7 pence per share (2015: 25.1 pence per share)
Current trading:
- Positive start to the new financial year, with net private reservations per active outlet per average week from 1 July 2016 of 0.75 (2015: 0.71)
- Total forward sales including JV's as at 4 September 2016 up by 4.1% compared to last year, at £2,416.5m (6 September 2015: £2,321.9m)
Chief executive David Thomas said: "The strong operational and financial performance in FY16 reinforces the progress we have made over the last few years as does our disciplined volume growth. This was underpinned by our fast asset turn model and our industry leading customer service and construction excellence.
"Barratt starts the new financial year in a good position with a strong balance sheet, good forward sales and an experienced management team. Whilst we continue to monitor market conditions closely, current trading trends are positive, and I remain confident in the fundamentals of the housing sector and of our business."
Barratt Developments reports a strong operational and financial performance for the year to the end of June and a positive start to the new financial year.
The group reports a record profit before tax of £682.3m, up 20.7% on the prior year (2015: £565.5m), and its highest ROCE in ten years at 27.1% (2015: 23.9%). It also said it had significantly strengthened its balance sheet, ending the year with net cash of £592.0m.
Highlights
- Disciplined growth in housing completions, delivering the highest total in eight years
- Private average selling price increased by 10.4% to £289,800 (2015: £262,500), predominantly reflecting mix
- Strong growth in profit before tax, up by 20.7% to £682.3m (2015: £565.5m)
- ROCE up 3.2 ppts to 27.1% (2015: 23.9%), reflecting the group's fast asset turn model
- Positive cash generation resulting in strong balance sheet and net cash at 30 June 2016 of £592.0m (2015: £186.5m)
- Excellent future land opportunities secured with 24,387 plots approved for purchase; controlled land supply of 4.5 years at year end
- Step up in the delivery of strategic land with 22% (2015: 17%) of completions from strategic land
- 19% increase in final ordinary dividend per share to 12.3p (2015: 10.3p) together with 12.4p special dividend per share
- Total FY165 capital return of £308m (2015: £250m), equating to 30.7 pence per share (2015: 25.1 pence per share)
Current trading:
- Positive start to the new financial year, with net private reservations per active outlet per average week from 1 July 2016 of 0.75 (2015: 0.71)
- Total forward sales including JV's as at 4 September 2016 up by 4.1% compared to last year, at £2,416.5m (6 September 2015: £2,321.9m)
Chief executive David Thomas said: "The strong operational and financial performance in FY16 reinforces the progress we have made over the last few years as does our disciplined volume growth. This was underpinned by our fast asset turn model and our industry leading customer service and construction excellence.
"Barratt starts the new financial year in a good position with a strong balance sheet, good forward sales and an experienced management team. Whilst we continue to monitor market conditions closely, current trading trends are positive, and I remain confident in the fundamentals of the housing sector and of our business."
mentor - 27 Oct 2016 10:28 - 419 of 430
436.40p -39.50 (-8.30%)
The large fall was due to ....
X- dividend 37p ( 12.30p + 24.70p SPECIAL DIVIDEND ) almost 7%
The large fall was due to ....
X- dividend 37p ( 12.30p + 24.70p SPECIAL DIVIDEND ) almost 7%
skinny
- 16 Nov 2016 07:12
- 420 of 430
Trading Statement
Trading continues well, with ongoing strong demand
Barratt Developments PLC (the 'Group') is today issuing a trading update in respect of the period from 1 July to 13 November 2016 (the 'period'). All comparatives are to the prior year equivalent period ('2015') unless otherwise stated.
The Group is holding its Annual General Meeting today at 2.30pm in London.
Highlights
· Overall market conditions remain healthy, with the Group trading well since the start of the new financial year
· Sales rate of 0.74 (2015: 0.71) net private reservations per active outlet per average week
· Total forward sales (including joint ventures ('JVs')) up by 4.3% to £2,654.3m (2015: £2,544.6m), with wholly owned forward sales up strongly by 19.5% to £2,466.1m (2015: £2,062.9m)
· As previously announced the Board has proposed a record dividend payment of £248m payable on 21 November 2016
more.....
Trading continues well, with ongoing strong demand
Barratt Developments PLC (the 'Group') is today issuing a trading update in respect of the period from 1 July to 13 November 2016 (the 'period'). All comparatives are to the prior year equivalent period ('2015') unless otherwise stated.
The Group is holding its Annual General Meeting today at 2.30pm in London.
Highlights
· Overall market conditions remain healthy, with the Group trading well since the start of the new financial year
· Sales rate of 0.74 (2015: 0.71) net private reservations per active outlet per average week
· Total forward sales (including joint ventures ('JVs')) up by 4.3% to £2,654.3m (2015: £2,544.6m), with wholly owned forward sales up strongly by 19.5% to £2,466.1m (2015: £2,062.9m)
· As previously announced the Board has proposed a record dividend payment of £248m payable on 21 November 2016
more.....
skinny
- 12 Jan 2017 07:05
- 421 of 430
Trading Statement
Good reservation trends leave the Group well on track for the full year
Barratt Developments PLC (the 'Group') is issuing a trading update in respect of the six months ended 31 December 2016 (the 'period') ahead of publication of its interim results on 22 February 2017. All comparatives are to the prior year equivalent six month period (the 'comparable period') ended 31 December 2015 ('2015') unless otherwise stated.
Highlights
· Overall market conditions are healthy with strong demand in the period for new homes
· Sales rate of 0.68 (2015: 0.66) net private reservations per active outlet per week(1)
· Completions outside of London are at the highest level for nine years, offset by lower completions in London primarily reflecting the planned HY1/HY2 build programme on wholly owned sites, resulting in total completions for the period (including joint ventures ('JVs')) of 7,180 (2015: 7,626)
· Profit before tax for the period is expected to be around £315m, c.7% higher than the comparable period (2015: £295.0m)
· Strong half year end net cash(2) position, at around £195m, an increase of £170.8m on 31 December 2015 (£24.2m)
· Total forward sales (including JVs) are up 15.8% against a strong prior year comparative at £2,336.6m (2015: £2,017.8m), with wholly owned forward sales up by 35.2% to £2,167.5m (2015: £1,603.0m)
Good reservation trends leave the Group well on track for the full year
Barratt Developments PLC (the 'Group') is issuing a trading update in respect of the six months ended 31 December 2016 (the 'period') ahead of publication of its interim results on 22 February 2017. All comparatives are to the prior year equivalent six month period (the 'comparable period') ended 31 December 2015 ('2015') unless otherwise stated.
Highlights
· Overall market conditions are healthy with strong demand in the period for new homes
· Sales rate of 0.68 (2015: 0.66) net private reservations per active outlet per week(1)
· Completions outside of London are at the highest level for nine years, offset by lower completions in London primarily reflecting the planned HY1/HY2 build programme on wholly owned sites, resulting in total completions for the period (including joint ventures ('JVs')) of 7,180 (2015: 7,626)
· Profit before tax for the period is expected to be around £315m, c.7% higher than the comparable period (2015: £295.0m)
· Strong half year end net cash(2) position, at around £195m, an increase of £170.8m on 31 December 2015 (£24.2m)
· Total forward sales (including JVs) are up 15.8% against a strong prior year comparative at £2,336.6m (2015: £2,017.8m), with wholly owned forward sales up by 35.2% to £2,167.5m (2015: £1,603.0m)
skinny
- 12 Jul 2017 07:40
- 422 of 430
Trading Statement
Continued strong performance
Barratt Developments PLC (the 'Group') is today issuing a trading update for the year ended 30 June 2017 (the 'period') ahead of publication of its annual results on 6 September 2017. All comparatives are to the year ended 30 June 2016 ('2016') unless otherwise stated.
Highlights
· The UK's largest housebuilder with total completions including joint ventures ('JVs') at 17,395 (2016: 17,319), the highest level of completions in nine years
· Profit before tax expected to increase to around £765m (2016: £682.3m), ahead of market expectations(1)
· Expect to deliver our financial targets set in 2014 of 20% gross profit margin and 25% return on capital employed ('ROCE')(2) for FY17
· Year end net cash(3) balance of c. £720m (30 June 2016: £592.0m), ahead of guidance, driven by strong performance and the timing of land and working capital payments
David Thomas, Chief Executive commented,
"It has been another very strong year for the Group both operationally and financially. We have delivered our highest number of completions for nine years, more than any other housebuilder, and continue to see a positive mortgage environment and strong consumer demand.
In March we were recognised as a five star builder by the Home Builders Federation for the eighth year in a row and we are determined to lead the industry in quality and service as we drive operational improvements through the business."
Trading Update
The Group has traded well throughout the year, once again delivering against our financial and operational targets. Market conditions remain supportive, with attractive mortgage financing and the support of Help to Buy driving strong consumer demand.
Completions (including JVs) for the period were 17,395 units (2016: 17,319 units). Affordable housing represented 20% (2016: 17%) of total completions.
Profit before tax for the period is expected to be around £765m (2016: £682.3m) and ahead of market expectations. We expect to meet our FY17 financial targets, set in 2014, of 20% gross profit margin and 25% ROCE, with ROCE expected to increase to around 29% (2016: 27.1%).
Total average selling price ('ASP') on completions in the year increased by c. 5.9% to c. £275k(4) (2016: £259.7k), with private ASP increasing by c. 8.0% to c. £313k (2016: £289.8k) benefiting from mix changes as well as some underlying house price inflation.
The sales rate for FY17 was 0.72 (2016: 0.69) net private reservations per active outlet per week in the full year and 0.76 (2016: 0.72) in the second half. During the year, we operated from an average of 377 active outlets including JV's (2016: 378).
We lead the industry in the high quality of our homes and our customer service. That quality is recognised through the NHBC Pride in the Job Awards where we have achieved more than any other housebuilder for the 13th consecutive year. We remain the only major housebuilder to be rated five star by our customers in the HBF customer satisfaction survey for eight consecutive years.
We are committed to investing in the future of housebuilding. We are one of the largest employers of apprentices in the industry, and continue to develop, trial and implement modern methods of construction which can help address industry-wide skills challenges and support future growth.
Forward Sales
Our forward sales position is strong, with total forward sales (including JVs) as at 30 June 2017 at a value of £2,144.4m (2016: £1,762.0m), equating to 9,762 plots (2016: 8,724 plots). Our wholly owned forward sales were up by 18.8% on the prior year to £1,909.2m (2016: £1,607.2m), equating to 8,953 plots (2016: 8,054 plots).
Land and Planning
The land market remains attractive and we continue to secure operational land opportunities that meet or exceed our minimum hurdle rates of 20% gross margin and 25% site ROCE(5).
We approved £957.2m (2016: £1,095.6m) of operational land for purchase in the period, which we expect to equate to 18,497 plots (2016: 24,387 plots). Whilst this is lower than historical levels, it reflects our caution immediately following the EU referendum. At 30 June 2017 the Group had around a 4.5 year supply of owned and controlled land, in line with our target.
Capital Structure and Returns
As at 30 June 2017 the Group had a net cash balance of c. £720m (2016: £592.0m), ahead of guidance, driven by strong performance and the timing of land and working capital payments.
We remain committed to our capital return policy announced in February and will announce in September the proposed full year ordinary dividend based on 2.5 times dividend cover. As previously announced, the Board also proposes to pay a special dividend of £175m in November 2017 and 2018. We expect to deliver cash returns of c. £1.4bn(6) of dividends (based on consensus earnings) in the four year period to November 2018.
Outlook
This has been another strong year for the Group and we continue to drive operational improvements through the business, with a particular focus on improving operating margin.
In FY18 we expect to deliver modest growth in wholly owned completions year on year.
We will update on current trading and our guidance for FY18, alongside our full year results announcement on 6 September 2017.
more.....
Continued strong performance
Barratt Developments PLC (the 'Group') is today issuing a trading update for the year ended 30 June 2017 (the 'period') ahead of publication of its annual results on 6 September 2017. All comparatives are to the year ended 30 June 2016 ('2016') unless otherwise stated.
Highlights
· The UK's largest housebuilder with total completions including joint ventures ('JVs') at 17,395 (2016: 17,319), the highest level of completions in nine years
· Profit before tax expected to increase to around £765m (2016: £682.3m), ahead of market expectations(1)
· Expect to deliver our financial targets set in 2014 of 20% gross profit margin and 25% return on capital employed ('ROCE')(2) for FY17
· Year end net cash(3) balance of c. £720m (30 June 2016: £592.0m), ahead of guidance, driven by strong performance and the timing of land and working capital payments
David Thomas, Chief Executive commented,
"It has been another very strong year for the Group both operationally and financially. We have delivered our highest number of completions for nine years, more than any other housebuilder, and continue to see a positive mortgage environment and strong consumer demand.
In March we were recognised as a five star builder by the Home Builders Federation for the eighth year in a row and we are determined to lead the industry in quality and service as we drive operational improvements through the business."
Trading Update
The Group has traded well throughout the year, once again delivering against our financial and operational targets. Market conditions remain supportive, with attractive mortgage financing and the support of Help to Buy driving strong consumer demand.
Completions (including JVs) for the period were 17,395 units (2016: 17,319 units). Affordable housing represented 20% (2016: 17%) of total completions.
Profit before tax for the period is expected to be around £765m (2016: £682.3m) and ahead of market expectations. We expect to meet our FY17 financial targets, set in 2014, of 20% gross profit margin and 25% ROCE, with ROCE expected to increase to around 29% (2016: 27.1%).
Total average selling price ('ASP') on completions in the year increased by c. 5.9% to c. £275k(4) (2016: £259.7k), with private ASP increasing by c. 8.0% to c. £313k (2016: £289.8k) benefiting from mix changes as well as some underlying house price inflation.
The sales rate for FY17 was 0.72 (2016: 0.69) net private reservations per active outlet per week in the full year and 0.76 (2016: 0.72) in the second half. During the year, we operated from an average of 377 active outlets including JV's (2016: 378).
We lead the industry in the high quality of our homes and our customer service. That quality is recognised through the NHBC Pride in the Job Awards where we have achieved more than any other housebuilder for the 13th consecutive year. We remain the only major housebuilder to be rated five star by our customers in the HBF customer satisfaction survey for eight consecutive years.
We are committed to investing in the future of housebuilding. We are one of the largest employers of apprentices in the industry, and continue to develop, trial and implement modern methods of construction which can help address industry-wide skills challenges and support future growth.
Forward Sales
Our forward sales position is strong, with total forward sales (including JVs) as at 30 June 2017 at a value of £2,144.4m (2016: £1,762.0m), equating to 9,762 plots (2016: 8,724 plots). Our wholly owned forward sales were up by 18.8% on the prior year to £1,909.2m (2016: £1,607.2m), equating to 8,953 plots (2016: 8,054 plots).
Land and Planning
The land market remains attractive and we continue to secure operational land opportunities that meet or exceed our minimum hurdle rates of 20% gross margin and 25% site ROCE(5).
We approved £957.2m (2016: £1,095.6m) of operational land for purchase in the period, which we expect to equate to 18,497 plots (2016: 24,387 plots). Whilst this is lower than historical levels, it reflects our caution immediately following the EU referendum. At 30 June 2017 the Group had around a 4.5 year supply of owned and controlled land, in line with our target.
Capital Structure and Returns
As at 30 June 2017 the Group had a net cash balance of c. £720m (2016: £592.0m), ahead of guidance, driven by strong performance and the timing of land and working capital payments.
We remain committed to our capital return policy announced in February and will announce in September the proposed full year ordinary dividend based on 2.5 times dividend cover. As previously announced, the Board also proposes to pay a special dividend of £175m in November 2017 and 2018. We expect to deliver cash returns of c. £1.4bn(6) of dividends (based on consensus earnings) in the four year period to November 2018.
Outlook
This has been another strong year for the Group and we continue to drive operational improvements through the business, with a particular focus on improving operating margin.
In FY18 we expect to deliver modest growth in wholly owned completions year on year.
We will update on current trading and our guidance for FY18, alongside our full year results announcement on 6 September 2017.
more.....
HARRYCAT
- 21 Feb 2018 09:49
- 423 of 430
StockMarketWire.com
Barratt Developments posted pre-tax profits of £342.7m for the six month to the end of December, up 6.8% on the prior year period while total completions rose 2% to 7,324 plots.
The group said it intends to pay special dividends of £175m in November 2018 and £175m in November 2019.
The group said its net private reservation rate was 0.68 per active outlet per week in the half year period, unchanged compared to the prior year period. ROCE increased by 1.3 ppts to 28.3%.
During the period, the group operated from an average of 376 outlets (including JV's) and reported progress on new site openings, launching 93 new outlets (including JV's) in the half year.
Total forward sales (including JV's) as at 18 February 2018 were up 2.0% on the strong prior year at a £3,077.9m.
The hombuilder said it expects to grow volumes modestly and improve margin improvements through land acquisition and operational efficiencies but recognise that the continued headwinds in the high end central London market may dilute some of these percentage margin improvements. David Thomas, Chief Executive of Barratt Developments PLC said: '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.'
'As the UK's largest housebuilder, we enter our 60th year increasing our housing output, creating jobs and supporting economic growth across the country.'
'Having built more than 450,000 homes since 1958, Barratt remains focused on quality, design and industry-leading customer service while delivering homes the country needs.'
Barratt Developments posted pre-tax profits of £342.7m for the six month to the end of December, up 6.8% on the prior year period while total completions rose 2% to 7,324 plots.
The group said it intends to pay special dividends of £175m in November 2018 and £175m in November 2019.
The group said its net private reservation rate was 0.68 per active outlet per week in the half year period, unchanged compared to the prior year period. ROCE increased by 1.3 ppts to 28.3%.
During the period, the group operated from an average of 376 outlets (including JV's) and reported progress on new site openings, launching 93 new outlets (including JV's) in the half year.
Total forward sales (including JV's) as at 18 February 2018 were up 2.0% on the strong prior year at a £3,077.9m.
The hombuilder said it expects to grow volumes modestly and improve margin improvements through land acquisition and operational efficiencies but recognise that the continued headwinds in the high end central London market may dilute some of these percentage margin improvements. David Thomas, Chief Executive of Barratt Developments PLC said: '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.'
'As the UK's largest housebuilder, we enter our 60th year increasing our housing output, creating jobs and supporting economic growth across the country.'
'Having built more than 450,000 homes since 1958, Barratt remains focused on quality, design and industry-leading customer service while delivering homes the country needs.'
Fred1new
- 05 Sep 2018 08:38
- 424 of 430
Barratt Developments books record profits as house prices jump
StockMarketWire.com
UK housebuilder Barratt Developments said Wednesday annual profits rose to a record owing to rising house prices.
For the year ended 30 June, profit before tax rose 9.2% to £835.5m and revenue rose 4.8% to £4.87bn.
The company attributed the growth in profit to a 5% rise in its average selling price to £288,900 from £275,200 seen in the previous year.
'Completions in our London business were ahead of expectations, with particularly strong final quarter Central London trading, resulting in a higher average selling price in the second half,' the company said.
Barratts housebuilding volumes came in at 17,579, up just 1.06% from 17,395 the previous year.
Forward sales, including joint ventures, came to £3.05bn on 2 September 2017, up 11.1% from last year.
Barratt also announced a 4.7% increase in its final dividend to 17.9p, and a special dividend of 17.3p a share.
In sign of confidence in the business, the company said it expected to grow volumes between 3% to 5% a year, acquire land at an increased minimum of 23% gross margin and maintain return on capital employed at a minimum of 25% over the medium term.
'The Group has had another outstanding year delivering a strong operational and financial performance, and our highest volumes in a decade,' the company said. 'The Group is well positioned to continue to improve its performance in future years'.
Story provided by StockMarketWire.com
StockMarketWire.com
UK housebuilder Barratt Developments said Wednesday annual profits rose to a record owing to rising house prices.
For the year ended 30 June, profit before tax rose 9.2% to £835.5m and revenue rose 4.8% to £4.87bn.
The company attributed the growth in profit to a 5% rise in its average selling price to £288,900 from £275,200 seen in the previous year.
'Completions in our London business were ahead of expectations, with particularly strong final quarter Central London trading, resulting in a higher average selling price in the second half,' the company said.
Barratts housebuilding volumes came in at 17,579, up just 1.06% from 17,395 the previous year.
Forward sales, including joint ventures, came to £3.05bn on 2 September 2017, up 11.1% from last year.
Barratt also announced a 4.7% increase in its final dividend to 17.9p, and a special dividend of 17.3p a share.
In sign of confidence in the business, the company said it expected to grow volumes between 3% to 5% a year, acquire land at an increased minimum of 23% gross margin and maintain return on capital employed at a minimum of 25% over the medium term.
'The Group has had another outstanding year delivering a strong operational and financial performance, and our highest volumes in a decade,' the company said. 'The Group is well positioned to continue to improve its performance in future years'.
Story provided by StockMarketWire.com
micro - 11 Oct 2018 16:20 - 425 of 430
The largest faller of the builders 490.90 -64.30 -11.58%
but more than half 35.2 pence is X-dividend - ( final dividend to 17.9p, and a special dividend of 17.3p a share.)
but more than half 35.2 pence is X-dividend - ( final dividend to 17.9p, and a special dividend of 17.3p a share.)
Fred1new
- 06 Feb 2019 10:17
- 426 of 430
Barratt Developments first-half profit up 19% as margins improve
StockMarketWire.com
House builder Barratt Developments booked a 19% rise in first-half profit as it completed more homes and strengthened its margins.
Pre-tax profit for the six months through December rose to £408.0m, as revenue climbed 7.2% to £2.13bn.
The company declared an interim dividend of 9.6p per share, up 11.6% on-year.
Total completions rose 4.1% to 7,622, while gross margin expanded by 200 basis points to 22.6%.
Net private reservations, however, dropped to 0.64 per active outlet per week, down from 0.68 on-year.
'The group has delivered a strong operational and financial performance across the half year,' chief executive David Thomas said.
'Whilst we continue to monitor market conditions closely, current trading is in line with our expectations and we are confident of delivering a good financial and operational performance in the full year.'
At 8:14am: (LON:BDEV) Barratt Developments PLC share price was +10.3p at 556.7p
Story provided by StockMarketWire.com
Stan
- 06 Feb 2019 10:23
- 427 of 430
Another cracking chart Fred.
Fred1new
- 06 Feb 2019 10:31
- 428 of 430
I hope it doesn't.
8-)
8-)
skinny
- 06 Feb 2019 10:32
- 429 of 430
These builders have caught me on the hop since the start of the year.
Fred1new
- 06 Feb 2019 10:33
- 430 of 430
I think there may be some shaky times ahead, before another recovery.
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