Barratt Developments H1 Pre-tax Profit Rises; To Resume Dividend Payment - Quick Facts

UK home builder Barratt Developments Plc. (BDEV.L) on Thursday reported pre-tax profit of 430.2 million pounds for the half year ended 31 December 2020, up 1.7 percent from 423.0 million pounds in the same period last year.

Profit for the period attributable to owners of the company was 348.8 million pounds, up from 342.7 million pounds in the year-ago period. Basic earnings per share increased 1.5 percent to 34.3 pence from 33.8 pence per share last year.

Revenue for the half-year period grew 10.1 percent to 2.49 billion pounds from 2.27 billion pounds in the same period last year.

Barratt Development said that following careful consideration, its board has decided to resume dividend payments with an interim dividend of 7.5 pence per share and continues to target a full year dividend cover of 2.5 times.

Looking ahead, Barratt Developments said its outlook for the full year remains in line with the Board's expectations, with wholly owned completions expected to be between 15,250 and 15,750 homes, with around 650 further joint venture home completions in fiscal 2021.

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