Barratt Developments

Total Page:16

File Type:pdf, Size:1020Kb

Barratt Developments Building Excellence Barratt Developments PLC Annual Report and Accounts 2015 WorldReginfo - 1d4caf61-92e9-4b01-bbd9-a765b5a575b2 Front and inside cover: Woodlands, Bedford, a range of beautifully designed three and four bedroom traditional homes. WorldReginfo - 1d4caf61-92e9-4b01-bbd9-a765b5a575b2 Barratt Developments PLC 1 Annual Report and Accounts 2015 Welcome to Barratt Developments Our vision is to lead the future of Report Strategic housebuilding by putting customers first and at the heart of everything we do. By investing in our people, we are leading Governance construction to create great places where people aspire to live, and generating sustainable returns for our shareholders. Financial Statements Inside this report Strategic Report Priorities in action Governance Financial Statements Other Information A snapshot of our business 2 The Board 46 Independent auditor’s report 103 Our performance and Customer first 18 Chairman’s introduction 48 Consolidated Income Statement 106 financial highlights 4 Overview 50 Statements of How we create and preserve value 6 Great places 22 Corporate governance report 51 Comprehensive Income 107 Chairman’s statement 8 Nomination Committee report 62 Statements of Changes in Key aspects of our market 10 Leading construction 26 Audit Committee report 66 Shareholders’ Equity 108 Chief Executive’s statement 12 Safety, Health and Environment Balance Sheets 110 Risk management 40 Investing in our people 30 Committee report 73 Cash Flow Statements 111 Remuneration report 75 Accounting Policies 112 Our principles Other statutory disclosures 96 Impact of Standards and Interpretations in issue Keeping people safe 34 Statement of Directors’ Responsibilities 102 but not yet effective 118 Being a trusted partner 35 Critical Accounting Judgements Building strong and Key Sources of Estimation community relationships 36 Uncertainty 119 Safeguarding the environment 37 Notes to the Financial Statements 121 Ensuring the financial health of the business 38 Other information 161 Notice regarding limitations on Director liability under English law Under the Companies Act 2006, a safe harbour limits the liability of Directors in respect of statements in, and omissions from, the Strategic Report contained on pages 2 to 45 and the Directors’ Report contained on pages 46 to 102. Under English Law the Directors would be liable to the Company (but not to any third party) if the Strategic Report and/or the Directors’ Report contains errors as a result of recklessness or knowing misstatement or dishonest concealment of a material fact, but would not otherwise be liable. Strategic Report and Directors’ Report Pages 2 to 45 inclusive comprise the Strategic Report and pages 46 to 102 inclusive comprise the Directors’ Report, both of which have been drawn up and presented in accordance with, and in reliance upon, English Company Law and liabilities of the Directors in connection with the reports shall be subject to the limitations and restrictions provided by such law. Cautionary statement regarding forward-looking statements The Group’s reports including this document and written information released, or oral statements made, to the public in future by or on behalf of the Group, may contain forward-looking statements. Although the Group believes that its expectations are based on reasonable assumptions, any statements about future outlook may be influenced by factors that could cause actual outcomes and results to be materially different. WorldReginfo - 1d4caf61-92e9-4b01-bbd9-a765b5a575b2 Barratt Developments PLC 2 Annual Report and Accounts 2015 Strategic Report A snapshot of our business We are the nation’s leading housebuilder operating across Britain with 27 housebuilding divisions delivering 16,447 homes this year. Homes legally completed1 a Our homes a Our customers We are a HBF 5 Star housebuilder We put our customers first. and create great places to live. We build great homes and aim 16,447 We aspire to meet Building to provide customer service (2014: 14,838) for Life 12 standards3 on all of that exceeds expectations. our developments. Average active sites2 2015 completions by unit type 2015 completions by deal type 380 (2014: 364) Housebuilding divisions 27 (2014: 27) Owned and controlled 2015 2014 2015 2014 land bank plots 1 and 2 bedroom houses 12% 12% Help to Buy 31% 31% 3 bedroom houses 33% 35% Part Exchange 8% 8% 70,523 4 bedroom houses 28% 26% NewBuy/Mi New Home 0% 2% (2014: 66,570) 5 and 6 bedroom houses 4% 4% Other Private 32% 31% Flats London 9% 7% Investor 11% 12% Employees Flats non-London 14% 16% Affordable 18% 16% 5,971 (2014: 5,755) 1 Total completions, including joint ventures, were 16,447 (2014: 14,838) for the year. Private completions for the year were 12,746 (2014: 11,936). Affordable completions for the year were 2,853 (2014: 2,255) and JV completions in which the Group had an interest were 848 (2014: 647). 2 Unless otherwise stated, all numbers quoted exclude joint ventures (‘JV’) and are as at 30 June 2015 throughout this Annual Report and Accounts. 3 Building for Life 12 is the industry standard, endorsed by the Government, for well-designed homes and neighbourhoods that local communities, local authorities and developers are invited to use to stimulate conversations about creating good places to live. 4 Housebuilding contributes 98.5% (2014: 99.5%) of revenues. We also have a commercial developments business which contributes 1.5% (2014: 0.5%) of revenues. WorldReginfo - 1d4caf61-92e9-4b01-bbd9-a765b5a575b2 Barratt Developments PLC 3 Annual Report and Accounts 2015 Strategic Report Strategic a Our geographic spread a Our brands We are the nation’s leading We have three main brands – Barratt Homes, housebuilder committed to David Wilson Homes and Barratt London. operating throughout Britain4. Commercial developments are delivered by Wilson Bowden Developments. Governance Northern Financial Statements 3,289 homes (2014: 2,918) Total completions (including joint ventures) +11% on 2014 East Other Information 2,945 homes (2014: 2,526) Central 3,030 homes (2014: 3,132) Southern 2,882 homes (2014: 2,316) West 2,336 homes (2014: 2,336) London 1,965 homes (2014: 1,610) WorldReginfo - 1d4caf61-92e9-4b01-bbd9-a765b5a575b2 Barratt Developments PLC 4 Annual Report and Accounts 2015 Strategic Report Our performance and financial highlights It has been a record year. We delivered our highest ever profit before tax and a strong performance against all our key metrics. Revenue £m Gross margin % £3,759.5m 19.0% +19.1% 3,759.5 +220bps 19.0 3,157.0 16.8 2,606.2 2,323.4 12.7 13.8 2,035.4 11.2 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Target Target Controlled growth in At least 20% by FY17 completion volumes Status Status On target On target KPI KPI Profit before tax1 £m Earnings per share pence £565.5m 45.5p 565.5 +44.8% +45.8% 45.5 390.6 31.2 192.0 110.7 7.0 7.7 42.7 (1.4) 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Target Target £530.0m profit before tax in line 42.5p in line with consensus at the with consensus at the start of the start of the financial year financial year Status Status Achieved Achieved 1 Profit before tax in 2011-2013 is calculated before exceptional items. WorldReginfo - 1d4caf61-92e9-4b01-bbd9-a765b5a575b2 Barratt Developments PLC 5 Annual Report and Accounts 2015 KPI Total shareholder return for the Total capital return per share2 three years ended 30 June 2015 362.9% 25.1 pence KPI Strategic Report Strategic Completions from more Land approvals plots recently acquired land % 16,956 76% -21.1% 21,478 +1,100bps 76 18,536 16,956 65 49 12,085 35 8,861 Governance 16 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Target Target 95% of completions from more recently 15,000–17,000 plots approved acquired land for FY17 for purchase Status Status On target Achieved Financial Statements KPI KPI Return on capital employed3 % Year end net cash/(debt) £m 23.9% £186.5m 186.5 +440bps 23.9 +£113.4m 19.5 73.1 Other Information (322.6) (167.7) (25.9) 11.5 8.3 5.7 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Target Target At least 25% by FY17 Minimal year end net cash Status Status On target Achieved 2 The Board proposes a final dividend of 10.3 pence per share in addition to the interim dividend of 4.8 pence per share. A further special cash payment equating to 10.0 pence per share under the special cash payment programme is also proposed. 3 Return on capital employed (‘ROCE’) is calculated as earnings before interest, tax, operating charges relating to the defined benefit pension scheme and operating exceptional items, divided by average net assets adjusted for goodwill and intangibles, tax, cash, loans and borrowings, retirement benefit obligations and derivative financial instruments. Read more in the Strategic Report on pages 2 to 45 WorldReginfo - 1d4caf61-92e9-4b01-bbd9-a765b5a575b2 Barratt Developments PLC 6 Annual Report and Accounts 2015 Strategic Report How we create and preserve value Our business model focuses on delivering value across the housebuilding value chain, creating sustainable returns for shareholders and making a positive difference in the communities in which we operate. a What we do Resources and Relationships Targeted land buying and effective planning > Purchase land in targeted locations which at least critical to our business model meets our hurdle rates of 20% gross margin and 25% ROCE > Availability of financial capital > Work with local communities and authorities to deliver See Ensuring the financial health effective planning of our business
Recommended publications
  • The Taylor Wimpey Difference
    Annual Report and Accounts 2019 Difference The Taylor Wimpey Taylor Wimpey plc Annual Report and Accounts 2019 www.taylorwimpey.co.uk Taylor Wimpey plc is a customer-focused residential developer building and delivering homes and communities across the UK and in Spain. Our Company purpose is to deliver new homes within thriving communities, in a safe and environmentally responsible manner, with customers at the heart of our decision making and consideration of the potential impact on wider stakeholders. Contents Strategic report Financial statements Connect with us 1 The Taylor Wimpey difference 140 Independent auditor’s report There are several ways you can get in 12 Investment case 148 Consolidated income statement touch with us or follow our news. 14 Chair’s statement 149 Consolidated statement of www.taylorwimpey.co.uk/corporate 17 Group Management Team Q&A comprehensive income 18 UK market review 150 Consolidated balance sheet www.twitter.com/taylorwimpeyplc 22 Chief Executive’s letter 151 Consolidated statement of changes in equity 24 Our strategy and www.linkedin.com/company/taylor-wimpey key performance indicators 152 Consolidated cash flow statement 30 Our business model 153 Notes to the consolidated financial statements 32 Making a difference for our stakeholders Navigating this report 183 Company balance sheet 44 Non-financial information statement The icons below help to signpost where you 184 Company statement of changes 45 Our approach to identifying and can find more information. in equity managing risk 185 Notes to the
    [Show full text]
  • Building Excellence
    Barratt Developments PLC Building excellence Annual Report and Accounts 2017 Annual Report and Accounts 2017 Inside this report 1 45 113 175 Strategic Report Governance Financial Statements Other Information 1 Key highlights 46 The Board 114 Independent Auditor’s Report 175 KPI definitions and why we measure 2 A snapshot of our business 48 Corporate governance report 119 Consolidated Income Statement 176 Glossary 4 Our performance and financial highlights 60 Nomination Committee report 119 Statement of Comprehensive Income 177 Other Information 6 How we create and preserve value 65 Audit Committee report 120 Statement of Changes in 8 Chairman’s statement 74 Safety, Health and Environment Shareholders’ Equity – Group 10 Key aspects of our market Committee report 121 Statement of Changes in 76 Remuneration report Shareholders’ Equity – Company 12 Chief Executive’s statement Notice regarding limitations on Directors’ liability under 106 Other statutory disclosures 122 Balance Sheets English law 17 Our Strategic priorities Under the Companies Act 2006, a safe harbour limits the 112 Statement of Directors’ 123 Cash Flow Statements liability of Directors in respect of statements in, and omissions from, the Strategic Report contained on pages 1 to 44 and the Our principles Responsibilities 124 Notes to the Financial Statements Directors’ Report contained on pages 45 to 112. Under English Law the Directors would be liable to the Company (but not to 34 Keeping people safe any third party) if the Strategic Report and/or the Directors’ Report contains errors as a result of recklessness or knowing 35 Being a trusted partner misstatement or dishonest concealment of a material fact, 36 Building strong but would not otherwise be liable.
    [Show full text]
  • Driving Sustainability in New Homes: a Resource for Local Authorities VERSION 1.1: July 2018
    Driving sustainability in new homes: a resource for local authorities VERSION 1.1: July 2018 (Version 1.0 originally published March 2018) An output from the UKGBC Cities Programme, sponsored by: 1 Acknowledgements This resource is the output of a UKGBC project in association with The intention is that key stakeholders feel ‘co-ownership’ of this Core Cities UK. It has been produced through a combination of resource, and we are grateful to the organisations below for their workshops, meetings, written consultation and individual feedback. endorsement. We invite others to do likewise. A large number of organisations have taken time to feed into the For any queries in relation to this resource, contact process. A full list can be found on the following slide. However, John Alker, Director of Policy & Places, UKGBC: we are particularly grateful for the extensive time provided by [email protected] Charlene Clear, BRE and Duncan Price, BuroHappold. 2 Acknowledgements The following organisations provided input and/or review during the original process. This acknowledgement does not imply endorsement. Barratt Developments GLA Newcastle City Council Berkeley Group Greater Manchester Combined Authority PassivHaus Trust Bioregional Hoare Lea PRP BRE HTA Rockwool BuroHappold Hurstwyn Associates Saint Gobain Cambridge City Council Igloo Regeneration St Albans & District Council Clarion Housing Group JLL Sustainable Homes Climate KIC Lendlease UK100 Core Cities UK Levitt Bernstein Useful Projects Currie Brown Linkcity WSP Eastleigh Borough Council
    [Show full text]
  • Housing Audit: Assessing the Design Quality of New Homes
    1 SENSE OF PLACE SENSE OF PLACE 2 APPROPRIATE ENCLOSURE ■ Main Street ■ Secondary Street ■ Tertiary Street / Lane / Courtyard 3 SAFETY ■ Is there active frontage on public spaces? ■ Is there overlooking frontage on public spaces? ■ Are the public spaces well lit? ■ Is there fenestration on two elevations at corners? 4 LEGIBILITY ■ Are there orientation markers? ■ Is there a series of events/spaces? 5 EXPLOITATION OF SITE’S ASSETS ■ Are existing buildings retained? ■ Is mature planting retained? ■ Does the layout respond to topography? 6 AVOIDANCE OF HIGHWAY DOMINANCE AND PEDESTRIAN REALM ROADS, PARKING ■ Do footpaths relate to building line? ■ Does the carriageway width vary? 7 PROMOTION OF NON-CAR TRAVEL ■ Is there a permeable network of routes? ■ Are the streets designed to calm traffic? ■ Are there dedicated bus/cycle lanes? ■ Is there safe cycle storage, close to homes? 8 CAR PARKING BUILDING FOR LIFE ■ Parking Type ■ Is it well integrated with public space? ■ Is parking visually unobtrusive? ■ Is it well integrated with planting? 9 SERVICING ■ Is the waste storage unobtrusive? ■ Are servicing arrangements well integrated? 10 MOVEMENT INTEGRATION ■ Are there connections to existing footpaths? ■ Are there multiple connections to the surrounding road network? ■ Is there easy access to main routes? ■ Does the development integrate with existing built development? 11 BESPOKE DESIGN DESIGN & CONSTRUCTION ■ Is bespoke design evident? ■ Is the local vernacular employed? 12 ARCHITECTURAL QUALITY ■ Are good quality materials used? ■ Is attention
    [Show full text]
  • FTSE Factsheet
    FTSE COMPANY REPORT Share price analysis relative to sector and index performance Barratt Developments BDEV Household Goods & Home Construction — GBP 5.244 at close 03 August 2020 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 03-Aug-2020 03-Aug-2020 03-Aug-2020 9 120 140 1D WTD MTD YTD Absolute 2.7 2.7 2.7 -29.8 8 110 130 Rel.Sector 0.3 0.3 0.3 -29.3 Rel.Market 0.6 0.6 0.6 -12.0 7 100 120 VALUATION 6 90 110 Trailing RelativePrice RelativePrice 5 80 100 PE 6.8 Absolute(localPrice currency) EV/EBITDA 7.9 4 70 90 PB 1.0 PCF 11.8 3 60 80 Div Yield 5.9 Aug-2019 Nov-2019 Feb-2020 May-2020 Aug-2020 Aug-2019 Nov-2019 Feb-2020 May-2020 Aug-2020 Aug-2019 Nov-2019 Feb-2020 May-2020 Aug-2020 Price/Sales 1.1 Absolute Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Net Debt/Equity 0.0 100 100 100 Div Payout 63.4 90 90 90 ROE 15.7 80 80 80 70 70 Index) Share 70 Share Sector) Share - - 60 60 60 DESCRIPTION 50 50 50 The Company is engage in constructing residential 40 40 40 RSI RSI (Absolute) property. 30 30 30 20 20 20 10 10 10 RSI (Relative to FTSE UKFTSE All to RSI (Relative RSI (Relative to FTSE UKFTSE All to RSI (Relative 0 0 0 Aug-2019 Nov-2019 Feb-2020 May-2020 Aug-2020 Aug-2019 Nov-2019 Feb-2020 May-2020 Aug-2020 Aug-2019 Nov-2019 Feb-2020 May-2020 Aug-2020 Past performance is no guarantee of future results.
    [Show full text]
  • Berkeley Group Holdings Plc (BKG:LN)
    Berkeley Group Holdings Plc (BKG:LN) Consumer Discretionary/Home Construction Price: 4,751.00 GBX Report Date: September 3, 2021 Business Description and Key Statistics Berkeley Group Holdings is a holding company. Through its Current YTY % Chg subsidiaries, Co. is engaged in residential-led mixed use development and ancillary activities. Co. builds homes and Revenue LFY (M) 2,202 14.7 communities across London, Birmingham and the EPS Diluted LFY 0.72 6.1 South-East of England. Market Value (M) 26,684 Shares Outstanding LFY (000) 561,659 Book Value Per Share 5.65 EBITDA Margin % 23.10 Net Margin % 19.6 Website: www.berkeleygroup.co.uk Long-Term Debt / Capital % 8.6 ICB Industry: Consumer Discretionary Dividends and Yield TTM 1.16 - 2.44% ICB Subsector: Home Construction Payout Ratio TTM % 100.0 Address: Berkeley House;19 Portsmouth Road Cobham 60-Day Average Volume (000) 455 GBR 52-Week High & Low 4,943.00 - 4,001.00 Employees: 2,627 Price / 52-Week High & Low 0.96 - 1.19 Price, Moving Averages & Volume 4,990.1 4,990.1 Berkeley Group Holdings Plc is currently trading at 4,751.00 which is 1.1% below its 50 day 4,860.6 4,860.6 moving average price of 4,804.42 and 3.2% above its 4,731.0 4,731.0 200 day moving average price of 4,603.30. 4,601.5 4,601.5 BKG:LN is currently 3.9% below its 52-week high price of 4,943.00 and is 18.7% above 4,472.0 4,472.0 its 52-week low price of 4,001.00.
    [Show full text]
  • Our Vision Is to Lead the Future of Housebuilding by Putting Customers
    Strategic Report Governance Financial Statements Other Information Welcome to Key highlights1 Barratt Developments Continued strong performance Our vision is to lead 20172 2016² Change the future of housebuilding Total completions3 (plots) 17,395 17,319 0.4% by putting customers first Revenue (£m) 4,650.2 4,235.2 9.8% and at the heart Gross margin (%) 20.0 18.9 1.1 ppts Adjusted gross margin4 (%) 20.2 18.9 1.3 ppts of everything we do. Profit from operations (£m) 799.2 668.4 19.6% By investing in our people, Adjusted profit from operations4 (£m) 808.0 668.4 20.9% we are leading construction Operating margin (%) 17.2 15.8 1.4 ppts Adjusted operating margin4 (%) 17.4 15.8 1.6 ppts to create great places Profit before tax (£m) 765.1 682.3 12.1% where people aspire Adjusted profit before tax4 (£m) 773.9 682.3 13.4% to live and generating ROCE (%) 29.8 27.1 2.7 ppts sustainable returns Total dividend per share (pence) 41.7 30.7 35.8% for our shareholders. Net cash (£m) 723.7 592.0 22.2% Net assets (£m) 4,322.2 4,010.2 7.8% 1 Refer to page 175 for definitions of KPIs. 2 Unless otherwise stated, all numbers quoted exclude joint ventures (‘JV’) and are for the year ended 30 June throughout this Annual Report and Accounts. 3 Includes JV completions in which the Group has an interest. 4 Calculated before commercial adjusted item disclosed in note 2.2 of the Financial Statements.
    [Show full text]
  • Barratt Developments PLC Report & Accounts 2008
    Annual Report and Accounts 2008 Registered Office Barratt Developments PLC Barratt House Cartwright Way Forest Business Park Bardon Hill Coalville Leicestershire LE67 1UF Tel: 01530 278 278 Barratt Developments PLC Fax: 01530 278 279 www.barrattdevelopments.co.uk Corporate Office Barratt Developments PLC Kent House 1st Floor 14 – 17 Market Place London Annual Report and Accounts 2008 W1W 8AJ Tel: 020 7299 4898 Fax: 020 7299 4851 Design and production by Addison Printed by Beacon Press using their and environmental print technology. Beacon Press is a CarbonNeutral® company and is registered to the Environmental Management System, ISO 14001 and the Eco Management and Audit Scheme (EMAS). This report is printed on Satimat Green containing 50% recycled fibres which is manufactured to ISO 14001 and supported by the Forest Stewardship Council. The cover is laminated with bio-degradeable lamination. Core foundations Cert no. SGS-COC-O620 Contents Welcome to Barratt Developments Barratt Developments is one of the nation’s largest housebuilders with over 5,200 direct employees and 26 divisions throughout Great Britain. In 2008 we sold over 18,500 homes and 676,000 square feet of commercial property. We operate across all sectors of the market: from apartments to family homes, urban regeneration schemes to retail shopping centres. Group overview Group at a glance IFC Summary of Group performance 01 Our aim Chairman’s statement 02 Our aim is to maximise value for Group Chief Executive’s statement 04 shareholders by creating outstanding places to live and work that serve the Report of the Directors long-term needs of our customers and Business review 08 their communities.
    [Show full text]
  • Annual Report 2020
    Berkeley Group 2020 Annual Report Building homes Strengthening communities Improving lives 2020 Annual Report Tony Pidgley CBE, 1947–2020 Since the issue of Berkeley’s results for the year ended 30 April 2020 we have with the greatest sadness announced the death of our founder and Chairman Tony Pidgley CBE. Tony’s values, vision and philosophy are deeply embedded within Berkeley and all it does and stands for. The 2020 Annual Report reflects Tony’s lifelong passion for creating quality homes, strengthening local communities and improving people’s lives. Berkeley at a Glance Berkeley builds homes and communities across London, Birmingham and the South-East of England. We focus on large-scale regeneration developments where our unique expertise and strong capital base can unlock long-term social and economic value for our stakeholders. We are a purpose driven company, with a clear long-term vision and deeply embedded culture and values that shape everything we do, underpinning our success, our brand and the positive contributions we make to society, the economy and the natural world. Our Purpose is to build quality homes, Our Values strengthen communities and improve Have Integrity – build trust by being people's lives. open, clear and credible Our Vision is to be a world-class Be Passionate – take pride in what business, defined by the quality of the we do and the impact we make places we create, generating long-term value and having a positive impact Think Creatively – find individual on society. solutions for every site and situation
    [Show full text]
  • Trading Update for the Year Ended 30 June 2020 (The ‘Year’) Ahead of Publication of Its Annual Results on 2 September 2020
    6 July 2020 Barratt Developments PLC Resilient performance, strong financial position THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION Barratt Developments PLC (the ‘Group’) is today issuing a trading update for the year ended 30 June 2020 (the ‘year’) ahead of publication of its annual results on 2 September 2020. The Group also provides an update following the conclusion of investigations into structural issues at a legacy development - Citiscape in Croydon. All comparatives are to the year ended 30 June 2019 (‘2019’) unless otherwise stated. All operational sites were reopened by 30 June 2020 and all employees, other than those shielding, have now recommenced working in the business Health and safety continues to be our first priority and all of our operations comply with our enhanced COVID-19 working practices and protocols Completion volumes were significantly reduced by the lockdown period with 12,6041 total homes including joint ventures completed during the year (2019: 17,856 homes) High customer interest levels since sales centres reopened, with net private reservations per active outlet2 per average week of 0.63 (2019: 0.69) for the last six weeks Our forward order book is strong with total forward sales (including JVs) as at 30 June 2020 of 14,326 homes (30 June 2019: 11,419 homes) at a value of £3,249.7m (30 June 2019: £2,604.1m) Resilient balance sheet, with year-end net cash3 of around £305m (30 June 2019: £765.7m) and land creditors at around £800m (30 June 2019: £960.7m) equivalent to c.25% (30 June 2019: 31.3%) of the owned land bank David Thomas, Chief Executive commented: “Prior to the COVID-19 pandemic, the Group was delivering a strong year of progress on both volume and margin.
    [Show full text]
  • Barratt Developments PLC Report & Accounts 2005
    BARRATT report & accounts 2005 financial highlights Consistent growth has been achieved across all key financial performance indicators. Pre-tax Profits Basic Earnings Per Share UK Housing Operating Profit £m pence £m 406.6 123.6 395.7 367.7 111.4 366.4 288.7 89.1 290.5 220.0 68.6 223.3 178.4 55.1 183.8 01 02 03 04 05 01 02 03 04 05 01 02 03 04 05 Year ended 30 June Year ended 30 June Year ended 30 June UK Legal Completions UK Housing Turnover UK Land Bank units £m 000’s plots 14,351 14,021 2,472 54.1 2,327 13,304 49.4 2,033 12,250 45.3 11,310 1,660 1,391 40.1 35.1 01 02 03 04 05 01 02 03 04 05 01 02 03 04 05 Year ended 30 June Year ended 30 June Year ended 30 June 2 contents Barratt Developments PLC Annual Report and Accounts for the year ended 30 June 2005. Registered in England No. 604574. Chairman’s Statement 4-5 Group Balance Sheet 43 Group Chief Executive’s Review 6-18 Group Cash Flow Statement 44 Award Winners 19-21 Accounting Policies 45 Directors and Professional Advisers 22 Notes to the Accounts 46-55 Notice of Annual General Meeting 23-24 Company Balance Sheet 55 Directors’ Report 25-33 Five Year Record and Financial Calendar 56 Remuneration Report 34-41 Auditors’ Report 57 Group Profit and Loss Account 42 Group Structure and Directory 58-59 Statement of Total Recognised Gains and Losses 42 3 chairman’s statement Charles Toner, Group Chairman, Barratt Developments PLC.
    [Show full text]
  • FTSE Factsheet
    FTSE COMPANY REPORT Share price analysis relative to sector and index performance Data as at: 21 February 2020 Barratt Developments BDEV Household Goods & Home Construction — GBP 8.632 at close 21 February 2020 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 21-Feb-2020 21-Feb-2020 21-Feb-2020 9 125 150 1D WTD MTD YTD Absolute 0.0 -0.8 7.5 15.6 8.5 120 140 Rel.Sector 0.1 -1.9 2.7 4.5 Rel.Market 0.4 -0.8 5.6 17.4 8 115 130 7.5 VALUATION 110 7 120 Trailing 105 RelativePrice RelativePrice 6.5 110 PE 11.0 Absolute Price (local (local Absolute currency)Price 100 6 EV/EBITDA 13.7 100 PB 1.7 5.5 95 PCF 19.1 5 90 90 Div Yield 3.6 Feb-2019 May-2019 Aug-2019 Nov-2019 Feb-2020 Feb-2019 May-2019 Aug-2019 Nov-2019 Feb-2020 Feb-2019 May-2019 Aug-2019 Nov-2019 Feb-2020 Price/Sales 1.7 Absolute Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Net Debt/Equity 0.0 100 100 100 Div Payout 63.4 90 90 90 ROE 15.7 80 80 80 Share Index) Share 70 Share Sector) Share - 70 - 70 60 DESCRIPTION 60 60 50 50 50 The Company is engage in constructing residential 40 RSI RSI (Absolute) property.
    [Show full text]