nice starting point..

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.

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)

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

on a roll at the mo.....how far..... limit sell at 155p......don't know.,.

broken through the 150 barrier, have limit sell at 154 but may have to extend it.,.

sold at 154p, wonder if it was right thing to do.,.

feeling smug today.,.

And why not ..

BB, good show. A bird in the hand...

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.,.

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

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

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.

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