nice starting point..

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

23 Feb: BDEV: UBS Reiterates: Buy - TP up from 140p to 170p.

Bring it on the sooner the better.

Looking good this morning along with TW.

Have a look at PSN then! That may be the reason for the whole lot going up!

very nice hopeyou hold harry.,.

I wish I did!....:o( Been thinking of house builders, but not convinced the sector was ready for investment yet. Poor decision!

12 March - Citigroup downgrades BDEV to Sell but ups
TP from 112p to 130p.

yet TW. seems to be holding up well.,.

Cameroon trying to ramp the housing market

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/9137991/State-backed-mortgage-scheme-threatens-negative-equity.html

up on this one at 140+ and tw. 50p+ in profit on both.,.

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

oh yea of little faith.........

150p+ bring it on.,.

13 Narch:

Credit Suisse reiterates: Neutral - ups TP to 158p.

Deutsche Bank reiterates: Buy - ups TP from 153p to 203p.

Is that a double top in BDEV chart.

180+

lovely.,.

3 May: BDEV : Panmure Gordon reiterates: Buy - 161p TP held.

Investec retains it's Buy Tp 180p.