nice starting point..

Are you speaking to me..?

Two birds with one stone.

Take a look at the AVN thread, ta.

I have.

Crack on then, won't take you long to switch logons back to Hlyeo.

I dont hold.

Oh dear, poor you.

Don't worry about cracking a fingernail, I'll ask Ian.

Please do pat.

Good grief, you've blown your chance to make your first useful contribution to AM - gutted for you.

Me or hlyeo..?

If it makes you happy, pat.

lol.

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

BDEV Citigroup: downgraded to hold from buy, tp cut to 135 from 170

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

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

UBS [HB] : Reiterated buy - TP reiterated 135

Deutsche: Reiterated buy - TP 152

JPMorgan: Overweight - TP cut to 174 from 210

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.

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