Plus   Neg

Barratt Developments Plans Phased Reopening Of Construction Sites From May 11

UK home builder Barratt Developments Plc. (BDEV.L) announced Friday plans for a phased reopening of its construction sites, which were closed on March 27 due to the COVID-19 pandemic.

The company said the work on its construction sites will recommence from May 11, initially to implement the changes required under new working practices and protocols. Following this, the company will start a phased return to construction, with 180 sites, around 50 percent of the total, in the first phase.

A nominated Social Distancing Marshal will be present on all sites to ensure policy compliance. Further, the company will provide induction, training and support for employees and sub-contractors.

With the phased reopening of sites, a significant proportion of workforce is expected to return to work during May. The company on April 16 had announced that it was in the process of furloughing around 85 percent of employees, at their normal pay, until at least the end of May.

Further, the company said it does not plan to restart work on sites in Scotland at this time.

In line with the lockdown retail regulations, the company is not reopening sales centres or show homes at this time, but continue to look after our customers remotely.

The company said it expects a limited number of additional completions this financial year. As of April 26, it has completed 11,776 homes, higher than 11,723 homes last year, including JVs. Total forward sales are 12,271 homes at a value of 2.85 billion pounds.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Lord & Taylor joined the growing list of U.S. retailers who filed for bankruptcy amid the coronavirus pandemic. Lord & Taylor, one of the oldest department store chains in the U.S., filed for bankruptcy protection in the Eastern Court of Virginia on Sunday. The company operated 38 stores that have remained temporarily closed since March this year due to the pandemic. Thomson International Inc. is recalling Red, Yellow, White, and Sweet Yellow Onions for potential contamination with Salmonella, according to a statement by the U.S. Food and Drug Administration or FDA. The onions are in distribution since May 1, 2020. They were sold to wholesalers, restaurants, and retail stores in all 50 U.S. states, the District of Columbia and Canada. Tyson Foods, Inc. (TSN) reported third quarter adjusted net income per share attributable to company of $1.40 compared to $1.47, a year ago. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.94, for the quarter. Analysts' estimates typically exclude...
Follow RTT