Updates

Barratt Developments - Private forward sales rise 28.5%

June 2013

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.

Barratt shares have gone from strength to strength and have gained over Â£1 on our 2013 Nap tip and more than Â£2 on our original recommendation in March 2012.The catalyst was a very positive update for the 18 weeks to 5 May, which showed an 18% uplift over prior year in net private reservations per week per active site to 0.72 (2012: 0.61) and like Crest Nicholson (see page 7) it is benefiting from the Government's help-to-buy initiative. Net debt is expected to have reduced to Â£100m as at 30 June, down from Â£168m in June 2012. Meanwhile private forward sales (excluding joint ventures) rose a staggering 28.5% to Â£1,013.5m compared with Â£789m a year ago. Good progress has also been made with its land investment strategy ...

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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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