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BRIEF-UK's biggest builder Barratt buoyant as profit rises
September 6, 2017 / 6:18 AM / 15 days ago

BRIEF-UK's biggest builder Barratt buoyant as profit rises

Sept 6 (Reuters) - Barratt Developments Plc

* Fy pretax profit rose 12.1 percent to 765.1 million stg

* Final dividend 10.3 penceper share

* Total dividend up 33.3 percent to 24.4 penceper share

* Total completions (plots) 3 17,395 + 0.4 percent

* Strong growth in profit before tax, up by 12.1% to £765.1m

* 39.0% increase in final ordinary dividend per share to 17.1p (2016: 12.3p) together with 17.3p special dividend per share

* Group starts new financial year in a good position with a strong balance sheet, healthy forward sales and we continue to see robust consumer demand supported by a positive mortgage environment.

* We are focused on driving further operational improvements through business with a particular focus on margin improvement.”

* Whilst general election in june 2017 created some uncertainty, government support for housebuilding and a commitment to tackle country’s housing shortage remain

* Following outcome of eu referendum, board continues to monitor carefully potential impacts of vote to leave eu on our business.

* Market conditions remain good with a wide availability of attractive mortgage finance, which, alongside help to buy, continues to support robust consumer demand. Source text for Eikon: Further company coverage: (Costas Pitas)

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