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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Barratt Developments PLC    BDEV   GB0000811801

BARRATT DEVELOPMENTS PLC

(BDEV)
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Homebuilder Taylor Wimpey posts 22% jump in order book

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01/14/2020 | 05:34am EST
Construction workers work on a Taylor Wimpey housing estate in Aylesbury

Taylor Wimpey order book jumped 22% in 2019 to 2.18 billion pounds ($2.83 billion), the housebuilder said on Tuesday, aided by the government's Help to Buy scheme, and said it saw positive signs in 2020.

"The environment is more positive at this point in the year than we have seen for the last couple of years. There is a bit of pent-up demand there. There is positive potential," CEO Peter Redfern told Reuters.

Taylor Wimpey in its trading update reported a 5% rise in home completions in 2019 and a 2% rise in its overall average selling price to 269,000 pounds.

Shares in Taylor Wimpey, which is due to report its full results on Feb 26, were up 1.7% at 205 pence at 1016 GMT.

"Despite ongoing economic and political uncertainty, the housing market remained stable throughout 2019, albeit with more challenging conditions in London and the South East and at higher price points," the company said.

Britain's housing market has been pressured since the UK voted to leave the European Union in 2016, creating uncertainty over how, when and even if Brexit would occur.

The company said it expects in-line results for 2019 while for 2020 the focus would be on cost discipline.

Prime Minister Boris Johnson winning a clear majority last month was seen as a positive for the Brexit process as it paved the way for quicker decisions by lawmakers on departure-related matters.

"I think the environment is more relaxed and confident than 12 months ago. Mortgage availability and pricing remains very good, those are all positive indicators," Redfern told Reuters.

Britain's third-largest homebuilder after Barratt and Persimmon had said in November it was still seeing demand for its houses despite the market uncertainty created by the Brexit process.

"The strong order book...does not feel as if earnings are going to suddenly soar, especially as price increases are flattening out," said Russ Mould, investment director at AJ Bell.

(Reporting by Muvija M and Samantha Machado in Bengaluru; editing by Uttaresh.V and Jason Neely)

By Muvija M and Samantha Machado

Stocks mentioned in the article
ChangeLast1st jan.
AJ BELL PLC 0.13% 400 Delayed Quote.-6.88%
BARRATT DEVELOPMENTS PLC -0.02% 801.6 Delayed Quote.7.55%
EURO / BRITISH POUND (EUR/GBP) 0.09% 0.8448 Delayed Quote.-0.16%
PERSIMMON 0.03% 3007 Delayed Quote.11.35%
TAYLOR WIMPEY 1.04% 218.721 Delayed Quote.11.89%
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Financials (GBP)
Sales 2020 4 870 M
EBIT 2020 922 M
Net income 2020 748 M
Finance 2020 619 M
Yield 2020 5,88%
P/E ratio 2020 11,1x
P/E ratio 2021 10,8x
EV / Sales2020 1,54x
EV / Sales2021 1,47x
Capitalization 8 127 M
Chart BARRATT DEVELOPMENTS PLC
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Technical analysis trends BARRATT DEVELOPMENTS PLC
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 768,07  GBp
Last Close Price 803,00  GBp
Spread / Highest target 2,12%
Spread / Average Target -4,35%
Spread / Lowest Target -12,8%
EPS Revisions
Managers
NameTitle
David Fraser Thomas Group Chief Executive Officer & Executive Director
John Murray Allan Non-Executive Chairman
Steven John Boyes Group Chief Operating Officer & Executive Director
Jessica Elizabeth White Chief Financial Officer & Executive Director
Richard John Akers Senior Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BARRATT DEVELOPMENTS PLC7.55%10 677
DAIWA HOUSE INDUSTRY CO.,LTD.6.05%21 510
D.R. HORTON, INC.8.85%21 178
SEKISUI HOUSE, LTD.6.84%15 348
PERSIMMON11.35%12 481
PULTEGROUP10.52%11 620