AIM IP specialist Tekcapital to sell or float all four portfolio companies 'within 2 years'. Watch the full video here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBarratt Developments Share News (BDEV)

Share Price Information for Barratt Developments (BDEV)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 780.60
Bid: 781.20
Ask: 781.40
Change: 0.80 (0.10%)
Spread: 0.20 (0.03%)
Open: 783.20
High: 787.80
Low: 772.80
Yest. Close: 779.80
BDEV Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

TOP NEWS: Barratt Sees Increased Customer Demand For New Homes In UK

Wed, 14th Oct 2020 09:08

(Alliance News) - Barratt Developments PLC on Wednesday said it is seeing continuing strong customer demand for new homes across the UK and says it is well positioned to weather any challenges.

The Leicestershire, England-based housebuilder said its sales rate from July 1 to October 11 was 0.87 net private reservations per active outlet per average week, up 21% year-on-year from 0.72.

The company operated from an average of 340 active outlets, down from 374 a year prior, due to site delays caused by Covid-19.

Barratt has launched 33 new developments, including joint ventures, helping completion volume recovery which is expected.

Barratt is now focused on rebuilding its completion volumes to its medium-term target and capacity of 20,000 homes.

"We have acquired land in recent years at a minimum 23% gross margin, and through our continued focus on operating efficiencies and the rebuilding of completion volumes, we continue to target a minimum 25% return on capital employed in the medium term," the company said.

Barratt continues to expect to grow wholly owned completions to between 14,500 and 15,000 homes in the 2021 financial year, as well as deliver around joint venture 650 completions, it said.

"Whilst there continues to be economic and political uncertainty, the group is in a strong position. We have a substantial net cash balance, a well-capitalised balance sheet, a healthy forward sales position, a continued focus on delivery of operational improvements across our business and an ongoing commitment to deliver high quality homes across the country."

The company believes it is in a strong financial position and it is set to weather any challenges with "resilience and flexibility".

Barratt shares were up 0.9% at 548.60 pence each in London on Wednesday morning.

By Greg Roxburgh; gregroxburgh@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News

Friday broker round-up

(Sharecast News) - Melrose: Numis upgrades to buy with a target price of 205p.

Today 12:50

BROKER RATINGS: Liberum downgrades John Laing to hold from buy

BROKER RATINGS: Liberum downgrades John Laing to hold from buy

Today 09:40

LONDON BRIEFING: Holidaymakers, airlines and hoteliers await UK list

LONDON BRIEFING: Holidaymakers, airlines and hoteliers await UK list

Today 08:15

LONDON MARKET CLOSE: FTSE supported as pound falls despite BoE upgrade

LONDON MARKET CLOSE: FTSE supported as pound falls despite BoE upgrade

6 May 21 16:59

LONDON MARKET MIDDAY: BoE expects strong UK growth in 2nd quarter

LONDON MARKET MIDDAY: BoE expects strong UK growth in 2nd quarter

6 May 21 12:09

BROKER RATINGS: Exane BNP downgrades three property companies

BROKER RATINGS: Exane BNP downgrades three property companies

6 May 21 09:46

TOP NEWS: Barratt Developments reports strong demand for new homes

TOP NEWS: Barratt Developments reports strong demand for new homes

6 May 21 09:00

LONDON MARKET OPEN: Stocks higher; Next rises after lifting guidance

LONDON MARKET OPEN: Stocks higher; Next rises after lifting guidance

6 May 21 08:56

LONDON MARKET PRE-OPEN: Next upgrades annual profit guidance

LONDON MARKET PRE-OPEN: Next upgrades annual profit guidance

6 May 21 07:49

Barratt to repay Covid rate relief, sees FY 'modestly' ahead

(Sharecast News) - Barratt said it expects full year results to be "modestly above" prior expectations after a strong start to the new year and was refunding £3.5m in Covid business rate relief.

6 May 21 07:01

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

4 May 21 15:51

EXECUTIVE CHANGES: Fresnillo chair steps down; Airtel Africa picks CEO

EXECUTIVE CHANGES: Fresnillo chair steps down; Airtel Africa picks CEO

29 Apr 21 16:52

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

29 Apr 21 16:14

LONDON MARKET CLOSE: Stocks limp into weekend ahead of partial reopen

LONDON MARKET CLOSE: Stocks limp into weekend ahead of partial reopen

9 Apr 21 17:05

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

8 Apr 21 16:05

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.