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Barratt Developments H1 Pre-tax Profit Up 19.1% - Quick Facts

UK home builder Barratt Developments Plc. (BDEV.L) on Wednesday reported pre-tax profit of 408.0 million pounds for the half year ended 31 December 2018, up 19.1 percent from 342.7 million pounds in the same period last year.

Profit for the period attributable to equity shareholders was 330.7 million pounds, up from 273.3 million pounds in the year-ago period. Basic earnings per share increased 20.7% to 32.7 pence per share from 27.1 pence per share last year.

Revenue from continuing operations for the half-year period grew 7.2 percent to 2.13 billion pounds from 1.99 billion pounds in the same period last year.

The company announced an interim dividend of 9.6 pence per share, compared to 8.6 pence per share last year. The dividend will be paid on Tuesday 7 May 2019 to all shareholders on the register on Friday 12 April 2019.

The company said it has further extended its Capital Return Plan with an ongoing commitment to ordinary dividend cover at 2.5 times and its intention to pay special returns of 175 million pounds in November 2019 and another 175 million poundsin November 2020.

The company's Board has introduced the flexibility to this policy such that the 175 million pounds cash returns proposed in November 2019 and November 2020, and any future special returns, can be made through a combination of share buybacks and special dividends, as opposed to solely special dividends.

Looking ahead, the company said its outlook for the full year is in line with the Board's expectations.

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