Wolseley in grim outlook as profit falls November 18, 2009 SHARES in Wolseley took a hammering yesterday after the world’s biggest builders’ merchant and plumbing supplier said it saw no sign of recovery in its key construction and industrial markets. Group profit plunged 41 per cent in the three months to the end of October to £104m as revenues fell 13 per cent to £13.4bn. [...]
Barratt reports jump in buyers November 17, 2009 HOUSEBUILDER Barratt Developments said home buyers were coming back to the market, with private reservations per site up over a third on last year. The second largest housebuilder by market value saw net private reservations per site rise by 34 per cent, it said yesterday in a trading statement covering the 19 weeks to 8 [...]
BARRATT BEATS THE BLUES November 4, 2009 HOUSEBUILDER Barratt yesterday said there had been a 92.3 per cent shareholder take-up of its £720m rights issue, strengthening signs of appetite returning to the housing sector. Barratt follows in the footsteps of rivals Redrow, Taylor Wimpey, Berkeley Group and Bellway which have all launched cash calls in the slump.
Blacks fights for survival as losses soar October 29, 2009 OUTDOOR retailer Blacks Leisure yesterday revealed it had submitted a rescue restructuring plan to its bankers, after reporting its losses had more than doubled in the first six months of the year. Blacks Leisure posted a pre-tax loss of £18.1m in six months to 29 August, compared to the £6.7m loss it reported a year [...]
Postal strife hurts Barratt October 27, 2009 PROPERTY group Barratt Developments yesterday voiced concerns that national postal strikes might affect the take-up of its £720m rights issue. Barratt Developments issued a notice to shareholders urging them to promptly take up their share entitlement, or use another courier service to return their applications. In a statement to the stock market yesterday, the company [...]
Builders tap the market September 23, 2009 HOUSEBUILDER Barratt yesterday unveiled its widely tipped £750m fundraising through a rights issue and share placing in a bid to repair its battered balance sheet. The group said it would raise £545.5m in a rights issues and £175m through a placing. Chief executive Mark Clare said the 1.3 for one rights issue would be priced [...]
…as Barratt chief pockets 847k in pay September 23, 2009 BARRATT yesterday brought forward its full-year results and annual report to join its much-hyped rights issue, in which it revealed it had slumped to a £678.9m pre-tax loss. Barratt said revenues had slid by 35.7 per cent to £2.29bn over the first six months of the year to 31 June. Chief executive Mark Clare said: [...]
BUILDERS GO CAP IN HAND FOR 850M September 22, 2009 HOUSEBUILDERS Barratt and Redrow are today expected to tap shareholders for a total of £850m to shore up balance sheets that have been battered by the property slump. Barratt is set to unveil plans to raise £700m in a placing and open offer through its house broker UBS. And rival Redrow is expected to launch [...]
BEST OF THE BROKERS September 15, 2009 BARRATT DEVELOPMENTSInvestec said that Barratt Developments is geared up disastrously to pay peak values for land and Wilson Bowden. The broker said that, at £1.3bn, net debt is still surprisingly high. With the firm reported to be considering a highly dilutive £500m rights issue at the end of the month, the broker rates the stock [...]
Barratt Developments set to launch 500m rights issue September 6, 2009 Housebuilder Barratt Development is expected to launch its £500m rights issue at the end of this month. Insurer RSA, rival housebuilder Redrow and several others are thought to be readying themselves to bid for the stake. The cash call is believed to be part of the group’s efforts to make further inroads into its £1.3bn [...]