Barratt Announcement?

iyiarz

Now down -39.34% today, along with big drops from other house builders:
BBC: Shares in UK house builders sink http://newsvote.bbc.co.uk/1/hi/business/7447972.stm

BBC: Housebuilder Persimmon is expected to exit the FTSE 100 along with Alliance & Leicester bank when the share index is recalculated on Wednesday.
http://newsvote.bbc.co.uk/1/hi/business/7447662.stm

It's looking a little grim out there today.

oldMcDonald

My goodness, as at 15.45pm, the shares are 44.8% down on the day.

[Deleted User]

RNS Number : 5014W
Barratt Developments PLC
11 June 2008


Wednesday 11th June 2008


Statement re: Market Speculation


Responding to continuing market speculation Barratt Developments is today confirming the
guidance for its full year ending 30 June 2008
given to the market at its Interim Management Statement made on 14 May 2008.

The company remains comfortable with market consensus forecasts for completions numbers
(18,300) and profit before tax and exceptional
charges (£395m).

The Group continues to operate within its £2.6bn of committed facilities and its banking
covenants. Given anticipated completion
numbers, net debt at the end of June is expected to be approximately £1.7bn in line with
previous guidance.

Based on the review of site margins at the time of the IMS, we continue to expect the
requirement for development provisions (often
referred to as land write downs) in the current year will be limited. Once year-end numbers
are confirmed and a detailed review of the
company's 600 developments is completed with our Auditors, the company will provide a full
update.

The Group's Trading Update is scheduled for 10 July.

iyiarz

Well, they appear have just shot up 15p on that announcement. Shame I didn't buy low and sell now... Although I think its phone only atm.

dopester

From the Daily Heil

Barratt shares 95pc down in housing gloom

It was the third day of losses and meant Barratt's shares had shed a staggering 95 per cent of their value since the peak early last year.

The Royal Institute of Chartered Surveyors said this week that estate agents sold fewer homes in the first quarter of this month than at any time since it began collecting data in 1978.

He said the severity of the housing slowdown would be determined by unemployment trends. The gloomy warning came as official figures showed the fourth consecutive monthly rise in unemployment claimants.

Snooze

dopester wrote: »

Speaking of which, can you spot the Barratt mistake with this house?

(I found this originally on a thread at the hpc forums)

http://www.barratthomes.co.uk/assets/a7e7b0ca-e2fa-42fc-90b8-98627c2e8754.jpg

Yes! yes!! I know! There's more than a 5mm gap between it and the neighbouring house! :rotfl:

:j Yay! Do I win a prize dopester??? :beer:

Rob

horace_clifford

There are lots of rumours about Barratts; if you are a risk taker you might buy shares at low prices and clean up in the future. But there are strong rumours from suppliers that they could be about to go into liquidation. City centre flats are just not selling and Barratts are one of the leaders in this area of the market.

Trollfever

BARRATT DEVEL. ORD 10P (BDEV)76.50 -7.25 (-8.66%) as of 04:00 PM BST on 24/06/2008 (London Delay: 15 mins.)

oldMcDonald

As of 16:22 today


Price 58.00

down 9.02% on the day

First time I have looked for a couple of weeks, they don't seem to have rallied much, do they?

Mary_Hartnell

dopester wrote: »

Speaking of which, can you spot the Barratt mistake with this house?

(I found this originally on a thread at the hpc forums)

http://www.barratthomes.co.uk/assets/a7e7b0ca-e2fa-42fc-90b8-98627c2e8754.jpg

That is where you house the migrants, that help to pay the mortgage.
The grass reminds them of the farm "back home".