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BARRATT House Builder PROFIT AND REVENUE JUMP 40% IN STRONG FIRST HALF

Barratt Developments Plc  Join Persimmon and Bovis homes , as the third national house builder this week, announcing pretax profit surge,  by 40% for the first half of its financial year to December 31, after it sold more houses at higher prices, which appears to be continuing into its second half. The FTSE 100 house-builder posted pretax profit of GBP295.0 million, up from GBP210.2 million for the first half of its previous financial year, whilst revenue was boosted in the half to GBP1.88 billion from GBP1.58 billion, up 19%. Barratt sold a total of 7,626 homes in the six months to the end of December, up from 6,971 a year earlier, at an average selling price of GBP254,000, up 11% from the GBP229,200 average price in the first half of the prior financial year . The housebuilder announced an interim dividend of 6.0 pence per share, up from 4.8 pence per share the previous year. Barratt said that under its capital return plan it expe...