Qualified advisers answering your
Financial Questions
call 0800 092 1245

Barratt Developments reports £592.4 million loss

Barratt Developments has today announced a £592.4 million loss for 2008 compared with a profit of approaching £200 million for the previous year. While the massive loss includes a £494 million write-down on the company's land bank it is within the scope of analyst forecasts and while initially the figures look disappointing they may not be as bad as first thought.

The company has also announced further job losses, which will cut the company cost substantially, but more crucially there appears to have been an increase in interest from potential buyers and visitors to the company's sales rooms. It may well be too soon to call the end of the property market down turn but there would appear to be at least a little bit of light at the end of the very very dark tunnel. However, while the sector may well have witnessed a small increase in activity during the early part of 2009 it is worth remembering that many of these operations are saddled with substantial debts.

Barratt Developments took over former rival Wilson Bowden in 2007 and is still struggling with the £2.2 million debt pile which the company was forced to take on. At this moment in time the group is trading within its banking covenants and has confirmed there are no plans for any fundraising programmes at this point in time.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details