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Barratt Developments H1 Earnings Rise While Revenue Dips

Barratt Developments Plc (BDEV.L) on Wednesday reported Profit before tax of 432.6 million euros in the first half, higher than 430.2 million euros in the same period a year ago.

Basic earnings per share increased to 34.5p from 34.3p last year.

The company posted adjusted basic earnings per share of 35.9p in the first half compared with 40.5p in the year-earlier period.

Revenue for the six-month period declined 9.9% to 2.247 billion euros from 2.495 billion euros a year ago.

Barratt declared an interim dividend of 11.2p per share, up 49.3% year-over-year.

Looking forward, the company said that it is on track to deliver total home completions of 18,000-18,250, including 750 from JVs, in FY22, an increase of 250 homes on previous guidance.

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