‘NO SUR­PRISES IN THE FIG­URES’

Yorkshire Post - Business - - FRONT PAGE -

An­a­lyst Robin Hardy at Shore Cap­i­tal said there were no sur­prises in Bar­ratt’s fig­ures.

“It is good to see Bar­ratt aim­ing for higher mar­gins and it does need to do this be­cause it has been so far out of line with the peers and hav­ing lower mar­gins has made it more vul­ner­a­ble to fall­ing house prices,” he said.

“The lat­ter is not go­ing to change in the near term and we see this and the true po­si­tion of the bal­ance sheet as mak­ing Bar­ratt riskier than its peers. How­ever, step­ping up on growth could be pos­i­tive and has the scope to al­low us to con­sider a higher fair value than our cur­rent bot­tom-ofthe range es­ti­mate of 520p.”

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