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Barratt Developments H1 Pre-tax Profit Up 3.7% - Quick Facts

UK home builder Barratt Developments Plc. (BDEV.L) on Wednesday reported pre-tax profit of 423.0 million pounds for the half year ended 31 December 2019, up 3.7 percent from 408.0 million pounds in the same period last year.

Profit for the period attributable to equity shareholders was 342.7 million pounds, up from 330.7 million pounds in the year-ago period. Basic earnings per share increased 3.4 percent to 33.8 pence per share from 32.7 pence per share last year.

Revenue for the half-year period grew 6.3 percent to 2.27 billion pounds from 2.13 billion pounds in the same period last year.

The company announced an interim dividend of 9.8 pence per share, compared to 9.6 pence per share last year. The dividend will be paid on Monday 11 May 2020 to all shareholders on the register on Friday 17 April 2020.

The board intends to pay special returns of 175 million pounds each in November 2020 and November 2021, in addition to the ordinary dividend cover at 2.5 times.

Looking ahead, Barratt Developments said its outlook for the full year remains in line with the Board's expectations.

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