Updates

Barratt Developments - Forward sales up 71%

February 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shares in housebuilder Barratt Developments have soared to a new high of 391p following a bullish update for the six months ended December. The company reported a 37% increase in private reservations to 0.67 (2012: 0.49) reservations per active site per week, while total completions (including joint ventures) rose 19% to 6,195 (2012: 5,194). With improved market conditions and stronger demand Barratt has increased sales prices and as we predicted in our last update two months ago this has fed through to a 1.5%-2% increase in margins. With net debt falling sharply to around Â£155m (30 June 2012: Â£331.7m) Barratt has kept one eye on the future by accelerating land acquisitions, purchasing 11,394 plots (2012: 9,320 plo ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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