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Barratt Developments H1 Pre-tax Profit Rises - Quick Facts

UK home builder Barratt Developments Plc. (BDEV.L) reported pre-tax profit of 342.7 million pounds for the half year ended 31 December 2017, up 6.8 percent from 321.0 million pounds in the same period last year.

Profit for the period attributable to equity shareholders was 273.3 million pounds, up from 259.7 million pounds in the year-ago period. Earnings per share from continuing operations rose to 26.8 pence from 25.6 pence last year.

However, revenue from continuing operations for the half-year period grew 9.5 percent to 1.99 billion pounds from 1.82 billion pounds in the same period last year.

The company announced an interim dividend of 8.6 pence per share, compared to 7.3 pence per share last year. The dividend, representing one-third of the expected ordinary dividend for the financial year, will be paid on Friday 18 May 2018 to all shareholders on the register on Friday 20 April 2018.

As previously announced the company's board intends to pay a special dividend of 175 million pounds in November 2018. Additionally, demonstrating the board's confidence in the business going forward, it proposes to pay a further special dividend of 175 million pounds in November 2019.

Looking ahead, the company said its outlook for the full year is in line with the Board's expectations, and added that the Group's operational and financial performance is reflected by the proposed fiscal 2019 special dividend.

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