Barratt boss warns of labour shortage September 10, 2014 The boss of Britain’s largest housebuilder Barratt Developments warned yesterday that a shortage of skilled workers could prevent the country from delivering the homes needed to tackle housing crisis as the company reported a doubling of full-year profits. Mark Clare said the lack of skilled workers – from bricklayers to architects and plasterers – is [...]
Is this the UK housing market’s new “normal”? Barratt share price up as revenues rise 21pc September 10, 2014 The UK housing market has returned to "normal seasonal trends" in 2014 after the frenzy created by the launch of Help to Buy last year, Barratt Developments said this morning while posting a 21.1 per cent rise in annual revenues. Revenues at the housebuilder rose to £3.1bn for the year to the end of June, up [...]
Direct Line set to join FTSE 100 as Barratt slides down the list September 2, 2014 Insurer Direct Line looks set to join the coveted FTSE 100 listing this week alongside newcomer Dixons Carphone, as the FTSE committee conducts its quarterly review. The changes are likely to be announced later today and could also see homebuilder Barratt demoted out of the top 100 blue chip companies. The developer only joined the [...]
Barratt profits double on sales at six-year high July 10, 2014 Barratt Developments, the biggest housebuilder by volume in the UK, yesterday announced it expected annual pre-tax profits to double to around £390m, buoyed by higher demand from a strong property market. The earnings figures would be record-breaking for Barratt, beating analyst forecasts and up from £192m in 2013. The forecast comes as the group saw [...]
Barratt Developments expects to build strong profit growth July 10, 2014 Housebuilder Barratt Developments has continued the trend of construction companies predicting increases in pre-tax profits, completions and average sales price. Like Bovis Homes, Taylor Wimpey and Galliford Try before it, Barratt announced a sizeable increase in the average cost of one of its houses; up 13 per cent to £220,000 in the financial year. Completions were [...]
Barratt and Derwent benefit from recovery May 8, 2014 BARRATT Developments expects to secure reservations on more than a quarter of next year’s private completions by June as the UK’s housing recovery continues apace. Chief executive Mark Clare said yesterday that rising consumer confidence and better mortgage availability meant sales rates had now reached an “optimum level”, with Barratt registering an average of 0.77 [...]
London Report: Shell and Barratt push FTSE upward to seven-week high April 30, 2014 THE UK’S blue-chip share index set a seven-week high yesterday, lifted by a rally in energy stocks after solid results from Royal Dutch Shell, although tensions in Ukraine and poor US growth data capped gains. Shares in Shell gained 3.7 per cent, adding the most points to the FTSE 100 index, after the Anglo-Dutch company [...]
Barratt Developments hires Dixons chairman John Allan March 11, 2014 BARRATT Developments said yesterday that it has hired Dixons Retail chairman John Allan to take over as its chair when Bob Lawson steps down in November. The housebuilder said Allan, who is also a non-executive director of Royal Mail, will join the board in August. He will replace Lawson, its chairman of six years, at [...]
Barratt Developments snaps up Dixons boss March 11, 2014 Barratt Developments has announced the appointment of Dixons chairman John Allan, as a non executive director and chairman designate. Allan will join Barratt's board on 1 August, and will succeed Bob Lawson who has been chairman since 1 July 2008 following the company's AGM on 12 November. Commenting on the appointment, Bob Lawson, chairman, said: [...]
Housing recovery helps Barratt sales rise more than two thirds January 14, 2014 BARRATT Developments said total home sales grew 71 per cent in the first half of its financial year thanks to government measures and a recovery in the housing market across all regions. Britain’s largest housebuilder by volume said yesterday that total forward sales, excluding joint ventures, jumped to £1.27bn in the six months to 31 [...]