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That should have said 30% not 30p...
A bit early in the day for me....
Strictly
Barratt have been rather low key on their further reserve of £180m for legacy issues...
I may have missed this before, but I can't see that it has been mentioned in previous updates ~ so if anyone has sharper eyes than me please say...?
However, it amounts to an adjustment of around 18.5p a share, or nearly 30p of forecast profit for the year ~ so, low key it may be, but insignificant it ain't...!
Strictly
Added 3.99p
Might go lower but more than happy
gla
A solid statement. Cash in the bank . Land banked. Double your money in 12 months.
Sharecast more positive ....lol
(Sharecast News) - Barratt Developments reported a fall in net private reservations and house completions in a full-year trading update on Thursday, although it was set to meet adjusted profit expectations.
The FTSE 100 housebuilder said net private reservations per active outlet per week decreased to 0.55 for the 12 months ended 30 June, compared to 0.81 in the prior year.
It did note increased reservations in the private rental sector and to registered providers of social housing, which contributed 0.1 to the net private reservations figure.
Despite the decrease, Barratt Developments said it maintained a solid level of customer demand.
Total home completions for the 2023 financial year reached 17,206, slightly lower than 2022's figure of 17,908.
That included 828 completions from joint ventures, marking a slight increase from the 746 joint venture completions in the prior year.
Barratt said it expected adjusted profit before tax to align with current market expectations for the full year.
The company said its balance sheet remained robust, with net cash at the year-end of around £1.07bn, down from the £1.14bn it recorded on 30 June last year.
It noted that its net cash figure was still after it completed a £200m share buyback, and land spend totalling about £820m during the year.
Looking ahead, Barratt Developments reported a solid order book for the 2024 period.
As at 30 June, its total forward sales, including joint ventures, stood at 8,995 homes, valued at £2.22bn.
That did represent a decrease from the prior year's figure of 13,579 homes valued at £3.62bn, but the firm said it expected its order book to normalise, reflecting more typical levels for next year's completions.
"During a year of economic and political uncertainty, we have delivered a strong operational and financial performance, while maintaining our industry-leading quality, customer service and sustainability credentials," said chief executive officer David Thomas.
"Whilst the trading backdrop has become more challenging in recent months, with many of our customers facing significant cost of living pressures, we have responded decisively - increasing our reservations into the private rental sector, using incentives for customers in a disciplined way, and flexing our build activity, land-buying and operating costs to reflect market conditions.
"As a result, we enter the new financial year in a robust financial position with a solid forward order book and we are ready to respond to any further changes in the housing market."
Barratt Developments said it would report its full-year results for the 12 months ended 30 June on 6 September
(Reuters) - Britain's largest homebuilder Barratt Developments said on Thursday it will build fewer homes this fiscal year as mounting worries over mortgage affordability and sticky inflation drive homebuyers away.
The FTSE 100-listed firm forecast home-build volumes for the 2024 fiscal year ending June 30 to be in a range of 13,250 to 14,250 units, down from 17,206 homes constructed in the year-ago period.
gla
Might be a very good reason to buy if the drop is significant. They do pay a generous dividend normally too.
Buying Barratt shares is a little like buying your first house - £2,895, and a mortgage of £5 a week . Now worth £350,000. Seems a little expensive with sacrifices at the time but the dividends and yearly rises are pretty good. Glad I bought a property rather than rented. It’s a good system that has not changed. BUY BDEV for the bottom drawer.
You old timers on here have probably heard this morality tale before... Bought my first shares ever a year before the credit crunch: bdev @ a quid a pop... Then they went down to 50p. In 2009 they were up to £1.60. Sold the buggers (to my detriment; mind you it was only a couple of k). But since then bdev has served me well. Very well. I'm holding some shares that were bought at £8 and others on a downward scale. Bit of a paper loss... But last two dividends were very nice and we should except another one.
It'll come back. In my portfolio Barrett is still top dog. Grrrrrrrrrr...
GLA - not that you'll need it.
Was getting ready to maybe buy into housing stocks after the further interest rare rise yesterday. No rush I thought & after today's broker rating by HSBC - no need to have Barratt in my portfolio.
HSBC cuts Barratt Developments to 'hold' - price target 440 pence
Meanwhile they continue to take shares out of the market and thus enhancing the next div due in about four months
Oh get over yourself , plonker , its a joke, based on the Chairman's position being mentioned in BDEV share news, but nothing about inflation figures "woke world conspiracy theories " ha ha ha, enjoy the sunshine, sunshine
The whole sector is down this morning following the latest inflation reading, it's got nothing to do with the Chairman, woke world, conspiracy theories...
Soo ? let me get this straight, the share price has gone down 20p (4.5%) because the Chairman has been alleged to have told a Lady (in 2019 while head of the CBI) that she looked good in a particular dress. You could not make it up in this woke world, worry not anyone , if will recover from "Dressgate"
The share price looks to be holding steady following yesterday's trading update.
No small feat as we are up 27% YTD against a 5% rise in the FTSE100 YTD.
Our update was similar to Taylor Wimpey and Persimmons in highlighting renewed buyer interest since the start of 2023, despite remaining cautious about broader economic concerns.
YTD forward sales up £280m to £2.95bn since the last update at the end of January and the raised home completions target of 16,500-17,000 was pleasing for me.
All in all just about as good as we could hope for given the environment we are operating in IMHO.
I give up reading the wrong page :)
oops my error 11th
elbaroney,
The 10th is a Bank holiday
BDEV Barratt Developments FTSE 100 463.9p 10.2p Interim 2.20% 08-Feb-23BDEV 08-Feb-23 Dividend Announcement 06-Apr-23 18-May-23
10th April say LSE for ex div date
Very odd.
Surely the title should have been something like "Buyback programme update"
Ex Div day tomorrow If I am not mistaken?
Entitled "Trading statement" but only contains buyback info?
Maybe Mark 2 will be less creaky. Still can't beat bricks and mortar, though - so, just got to wait until Barratt's big apprenticeship of brickies and plasterers serve their time, I guess, and things go back to status quo!
Got a bit of a longer memory than a lot of you on here... In the mid 70s Barratt started building some sites using timber frames. I lived in one of these houses. Now keep in mind that wood contracts and acts on temperature and weather conditions... I'm a pretty heavy sleeper, takes a lot to wake me - well, it did, until I moved into that house. Winter, spring, summer and fall all the houses on that small site quaked like an armada of old sailing ships in a storm. In the end I moved to dry land...
Agree. And this is still way under valued. Still got to the 6th to buy for the dividend.