Barratt Developments PLC (LSE: BDEV)

Barratt Developments PLC (LSE: BDEV) is an FTSE 100 listed Company, which is engaged in acquiring and developing land. It is also involved in the designing and construction of residential property developments.

Upcoming Update: On 3 May 2023, BDEV expects to release its next trading update.

Market Update

• H1 FY23 Results (for the six-month period ended 31 December 2022) – released on 8 February 2023:
  • On the back of significant forward order book on 30 June 2022, sub-contractors and supply chain partners, BDEV delivered 23.9% YoY revenue growth in H1 FY23.
  • On statutory basis, profit from operations and basic EPS increased by 13.9% and 9.3% YoY in H1 FY23, respectively.
  • After £100.5 million of share repurchases and dividend payment of £259.8 million, the period end net cash stood at £969.1 million (H1 FY22: £1,131.7 million).
  • Forward sales as on 29 January 2023 were 10,854 homes (30 January 2022: 15,736) at a value of £2,665.0 million (30 January 2022: £4,109.7 million). In a nutshell, BDEV is 86% forward sold with respect to private wholly owned home completions for FY23 (FY22: 92%).
  • The summarized FY23 guidance is given in the table below:

(Source: Company Filings)

• Sluggish UK House Prices: As per the Nationwide Building Society, British house prices fell lower than expected in January 2023, due to broader inflation pressure and a surge in borrowing costs.

Share Price Chart

(Data Source: REFINITIV, Analysis done by Kalkine Group)

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Barratt Developments PLC closed the trading at GBX 467.90 on 8 February 2023.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 8 February 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Note 4: Dividend Yield may vary as per the stock price movement.

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