Barratt to build 1,000 homes as profits increase January 16, 2013 BARRATT Developments yesterday revealed plans to build 1,000 homes in London after acquiring two sites in Southwark and Surrey Quays worth a total of £400m. The UK’s largest housebuilder announced the two projects as it delivered an upbeat forecast for 2013 with operating profit expected to rise 31 per cent to £80m. In a trading [...]
Profit doubles at Barratt January 16, 2013 Pre-tax profit at housebuilder Barratt more than “doubled” over the second half of last year, it said in a trading update today. Barratt Developments, the UK’s biggest housebuilder, said it expected to deliver a 108 per cent jump in pre-tax profit of £45m for the six months to December, up from £21.6m over the same [...]
UK consumer price index is forecast higher January 13, 2013 UTILITY prices are expected to have lifted the UK’s consumer price index (CPI), the household spending index due out tomorrow along with a swathe of housing and retail data. “We expect CPI inflation to have edged up to 2.8 per cent year on year in December from 2.7 per cent, and retail price index (RPI) [...]
City Moves for 7 January 2013 | Who’s switching jobs January 7, 2013 SJ Berwin The law firm has announced the appointment of Steven Fogel to its partnership board and as a non-executive director. He was previously senior partner of Titmuss Sainer, and led the law firm in its merger with Dechert. Fogel then served as managing partner of Dechert’s London office before retiring in June 2012. He [...]
What the other papers say this morning December 19, 2012 FINANCIAL TIMES Greece faces make or break year Next year will be “a make or break” year for Greece’s future as a member of the eurozone, the country’s finance minister has said, warning Europe’s leaders that Athens still faces “the possible risk” of crashing out of the currency bloc. “We can make it next year [...]
City Moves | Who’s switching jobs November 18, 2012 Boost ETP The investment product provider has appointed Richard Kent (right) as head of product operations and Jose Poncela as senior in-house counsel. Kent joins from UBS, where he was a director in its equity and fund-linked derivatives team. He has also worked for Barclays Capital. Poncela has held roles at Nomura International, UBS and [...]
Barratt eyes higher profits November 14, 2012 BARRATT Developments yesterday said it was on track for higher profits this financial year as its focus on higher-margin sites, rather than volumes, pays off in a tough market. The UK’s largest housebuilder said market conditions had remained stable since July, but it highlighted that recent government schemes aimed at easing mortgage lending had yet [...]
Best of the Brokers November 1, 2012 BARRATT Goldman Sachs has cut its recommendation on the homebuilder to “neutral” from “buy” following recent rises in its share price. It moved its target price to 235p from 210p. N BROWN Peel Hunt has raised its target price for the fashion and homewear retailer to 375p from 340p, maintaining its “buy” recommendation. It cites [...]
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 [...]