Member Info for MarkBellUK

Thank you! I dont use twitter enough,,just came through Reuters as well

https://www.marketscreener.com/PETROFAC-LIMITED-4005555/news/Petrofac-Ex-Petrofac-executive-pleads-guilty-to-11-counts-of-bribery-27975639/

Just come through...PFC exec pleads guilty to 11 counts of bribery!!

Looks like what trader said must be true re sfo? Need a bloomberg terminal I cant see any news yet!!!

Do you have a link mate?

I couldnt see actuals for the final or special but the interim is given at 9.6p and the total for the year 44.2, from what I can gather Blue

BDEV Barratt Developments PLC
Shore Capital
Buy Buy
BDEV Barratt Developments PLC
Peel Hunt
Add Add 575 510
BDEV Barratt Developments PLC
Liberum Capital
Buy Buy 500

I wonder if now, after yet another great set of results, we might start to see some of the larger funds stop mincing about, procrastinating, and get stuck into BDEV!!

Help to Buy and low interest rates help Barratt post strong first half

Barratt Developments, the UK’s largest housebuilder by sales, announced a 19.1 per cent increase in first-half pre-tax profits, in the clearest sign this year that housebuilders are weathering Brexit uncertainty.

In the six months to December 31 pre-tax profits were £408m, up from £342.7m in the same period a year earlier, the homebuilder said on Wednesday. Barratt reported a 2 per cent increase in gross margins to 22.6 per cent, citing improved operating efficiencies.

The company built 7,622 homes with an average selling price of £282,200.

Results for the listed housebuilders this year have held few unwelcome surprises, helping share prices across the sector to rally by around 15 per cent, having lost almost a quarter of their value over 2018.

Barratt shares have gained roughly 18 per cent since the turn of the year, closing on Tuesday at £5.46.

David Thomas, chief executive of Barratt Developments, said “our controlled and disciplined business model means we have a high-quality land bank, strong forward sales, excellent financial position and efficient cash flow generation”.

The company noted “the uncertainties arising from the way in which the UK will depart from the EU” and has been working with suppliers on plans to stockpile non-UK manufactured inventory.

Nonetheless, favourable mortgage lending rates, a stable land market and the Help to Buy scheme ensured growth in the period, according to the company.

In common with its industry peers, Barratt has relied on the government’s Help to Buy scheme for a significant proportion of its sales. In the six months to December, 38 per cent of the sales generated made use of the scheme, compared with 36 per cent in the year to June 2018.

Barratt posted record pre-tax profits of £835.5m in its fiscal year 2017-2018 as it delivered 17,579 homes, the second-highest number in its 60-year history. In the medium-term, the company plans to increase its output.

Barratt announced plans last year to pivot away from the London market, where the tailing off of price growth and stagnating transactions have hit the new build market. In 2017, the company sold 172 London homes to investors in a bulk deal, having struggled to find individual buyers for the properties.

Ooops apologies I forget the final divi! So they are saying 34.6p will be the final + special (44.2p - 9.6p interim)

Wednesday I think you are right . Ord Divi of 9.6p up 11.6%! paid 7/5/19 and special of 44.2-9.6 =34.6p

This is plan A....only if there is a SP collapse will they use buybacks to support the price

However, the proportion of households in the private sector was stable, falling one percentage point to 19 per cent.

Among those in the rental sector, the number of households with dependent children renting privately fell for the first time since 2013 to 1.6 million. The private rental sector is still twice the size it was in 2002 and the proportion of households living in rented accommodation has been about 19 per cent to 20 per cent since 2013.

Lucian Cook, of Savills estate agent, said this could partly be explained by a growing number of younger people either living with their parents for longer in order to save for a mortgage deposit or remaining in shared houses.

James Brokenshire, communities secretary, said: “Through planning reform and targeted investment we have ambitious plans to deliver more of the homes communities need.”

Generation Rent begins to find home of its own

The number of people taking out mortgages grew for the first time in a decade last year while the private rental sector stalled. After ten years of decline, the number of mortgages issued to households rose by 5 per cent to 6.9 million, according to the government’s annual English Housing Survey.

Analysts said that the government’s Help to Buy scheme, a growing reliance on parents for financial support and a loosening of lending conditions were beginning to drive up homeownership.

The survey, which was first published in 1967, collects information about the type and condition of housing that people live in and analyses the demographic profiles of households. It draws on a random sample of people, invited to take part each year.

There were 14.8 million owner-occupiers last year out of 23.2 million households, meaning homeownership grew for the second consecutive year after ten years of decline. The proportion of people who own their own home was 64 per cent, up one percentage point on the previous year but well below its peak of 71 per cent in 2003.

After more than a decade of decline, the proportion of 35 to 44-year-olds in their own properties grew to 57 per cent. The figure was up on the 52 per cent from the year before but below the peak of 71 per cent in 2007-2009.

There has been a considerable rise in the proportion of 35 to 44-year-olds living in the private rented sector, from 13 per cent in 2007-08 to 28 per cent in 2017-18. Growth in homeownership was largely driven by buyers with mortgages, a category which also grew for the first time in a decade.

Since 2013, the number of owner-occupiers with mortgages has been overshadowed by those who own their homes outright; however the gap narrowed last year. Thirty per cent of households purchased their home with a mortgage last year, up from 28 per cent in 2016-2017.

Lindsay Judge, of the Resolution Foundation think tank, said: “This rise is being driven by factors including improving credit conditions and the growing importance of the bank of mum and dad. We saw a welcome rise in homeownership across the country last year, as more young people were able to own their first home. However, one uptick can’t undo decades of falling homeownership and the rapid rise in the private rental sector.”

There were 785,000 first-time buyers in England last year, the highest number in 12 years. The survey’s findings reflect figures published by UK Finance, which reported this month that 36,200 new first-time buyers secured mortgages in November, 5.8 per cent more than in the same month a year earlier and a significantly higher growth rate than for the wider population.

The increase in homeownership comes as the number of people renting privately fell. Four-and-a-half million households were renting privately last year, down by 3.5 per cent on the previous year. However, the proportion of households in the private sector was s

BDEV Barratt Developments PLC Redburn Buy Target 715

WG is oversold in IMHO but is recovering from 481 after a stella TU !
OPEC cuts dont affect USA who seem to throttle output when prices rise
Shorts probably increased as we are bouncing off 550 and oil is dipping on fuel demand worrys
If we can push through 550 Im looking for circa 650 (Broker median is 654)

BF there's a TU in less than 2 weeks!!

Combined with the TW RDW and BVS positive+ updates this should move if the TU is as predicted to be on target
or better

Its all about the price of oil..both US & Brent down circa 3+% due to economic slowdown of China worry.. hence they will use less oil .... hence drop in demand (potential)

all guess work by the markets

PFC Petrofac Ltd
HSBC
Buy Target 665

I wouldn't worry about Owls. If you look through his history its just full of negative comments on shares he's not invested in

TomE for the record I saw no bragging

sssh!

Hi Nige

Article goes on for about 10 ++ pages "Time to buy housebuilders
Valuations are cheap and dividends are generous"

..only mention of PSN is – Persimmon (PSN), which is forecast to be sitting on more than £1bn in net cash, has committed to return surplus capital of at least 235p per share to shareholders each year for the next two years ending 2020, and 110p per share in 2021. Its chief executive Jeff Fairburn was forced out in November 2018 amid backlash over his £75m bonus. The company had failed to put a cap on a long-term incentive plan agreed in 2012

Bottom line" We are most positive on the high-yielding trio of Barratt Developments (BDEV), Bovis Homes (BVS) and Taylor Wimpey (TW.) which are also trading on relatively attractive price-to-net asset value (NAV) ratios."