Best of the Brokers October 28, 2012 BARRATT DEVELOPMENTS Rachael Applegate at Panmure Gordon has downgraded the builder to “hold”, citing the stock’s 100 per cent rise this year. She says “the rating is about right”. DEBENHAMS Matthew McEachran at N+1 Singer has increased his price target by 10 per cent to 135p, and says “buy” after a “comprehensive, confident” presentation from [...]
Barratt will pay dividend in 2013 as profit surges September 12, 2012 HOUSEBUILDER Barratt Developments yesterday posted a strong bounce in profits, up 159 per cent over the year to 30 June. Pre-tax profit increased to £110.7m, up from £42.7m over the same period in 2011. Investment in higher margin land and an increase in housing volumes flattered the numbers, as Barratt completed 12,637 properties over the [...]
FTSE 100 jumps on German court ruling September 12, 2012 The leading share index was up in early trading, as investors reacted positively to news that German judges ruled in favour of the Eurozone’s rescue fund. Meanwhile, holding company Chesnara led the fallers on the FTSE All-Share, down 6.87 per cent. Embattled platinum miner Lonmin shed 5.56 per cent, as strikes continued at its Marikana [...]
Housebuilder Barratt posts strong bounce in profit September 12, 2012 Housebuilder Barratt Developments posted a strong bounce in profits this morning, up 159 per cent over the year to 30 June. Investment in higher margin land and an increase in volumes helped to flatter profits over the period. Group revenues jumped 14.1 per cent to £2.3bn, with completions of 12,637 units over the year. Average [...]
Retailers report but all eyes on world economy September 9, 2012 THE GLOBAL economy will once again set the tone for the markets this week, with a crucial German ruling on the new bailout fund due on Wednesday and a potential move on QE3 by the US Federal Reserve on Thursday. Greek leaders will today meet with their creditors to outline further austerity measures. And UBS’s [...]
Barratt signs £250m Croydon deal August 20, 2012 Housebuilder Barratt Developments announced yesterday it has exchanged contracts with Greater London Authority for a £250m redevelopment on Cane Hill in Croydon. Proposals for the 83 hectare former hospital site – the size of 100 football pitches – include 650 homes of which 163 will be affordable, as well as 70,000 square feet of office, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 30, 2012 FINANCIAL TIMES Pension Corp frees up £300m in Munich Re deal Pension Corporation, the specialist insurer that private equity entrepreneur Edi Truell set up to take on pension schemes’ risks, has offloaded £300m worth of exposure to one of the world’s biggest reinsurers. AIG boosts its annuity sales as rivals pull back American International Group [...]
Barratt to build 463 Fulham homes July 12, 2012 Housebuilder Barratt Developments announced yesterday that its subsidiary Barratt London, in partnership with L&Q, the housing association, has bought a derelict 8.5 acre site in Fulham from Sainsbury’s. It currently houses a Sainsbury’s store and car park and a large, derelict wharf building. Barratt is set to transform the £420m site into 463 riverside flats [...]
Barratt upbeat as profits rise due to stable housing market July 11, 2012 BARRATT Developments has forecast a big rise in full-year profit, and said yesterday its drive to build new homes on higher-margin land would allow more progress as long as the housing market remained relatively stable. The group said it expected to post a 41 per cent jump in operating profit before exceptional items to around [...]
Barratt sees profit rising in more stable market July 11, 2012 Housebuilder Barratt Developments said it would post a big rise in full-year profit, while its strong forward orderbook meant it saw further scope for progress in the year to come as the UK market remained stable. “The group has made significant progress in both rebuilding profitability and reducing indebtedness during the year just ended,” Barratt [...]