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Barratt Developments logs 5.2% YOY increase in fiscal H1 attributable profit

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Barratt Developments logs 5.2% YOY increase in fiscal H1 attributable profit

For the half-year period ended Dec. 31, 2017, Barratt Developments PLC reported profit attributable to the owners of the company of £273.3 million, a rise of 5.2% from £259.7 million in the prior-year period.

Pretax profit came to £342.7 million, up 6.8% from £321.0 million from the year-ago period.

The U.K.-based homebuilder's EPS for the fiscal first-half amounted to 26.8 pence per share from 25.6 pence per share in the comparable 2016 period.

Revenue grew 9.5% year over year to £1.99 billion from £1.82 billion.

Meanwhile, the company disclosed that Tessa Bamford intends to step down from her nonexecutive director role, effective June 30. Sharon White, who is CEO at U.K. communications regulator Ofcom, joined the board as nonexecutive director Jan. 1.

Barratt Developments announced an interim dividend of 8.6 pence per share to be paid May 18 to shareholders on record as of April 20. The company said it plans to pay special dividends of £175 million in November 2018 and November 2019.