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Barratt Developments advances as profit surges 75%

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Shares in house builder Barratt Developments (LON:BDEV) nudged higher as it unveiled a near 75% increase in pre-tax profit in its latest half year.

The group also revealed there had been a "significant" step-up in the rate of site openings, with nearly 100 sites opened in the six months.

Completion volumes also increased 12.5% to 6,971.

Pre-tax profits was £210.1mln (2013: £120.4mln) on revenues of £1.57bn (2013: £1.26bn).

The group also said there had been a strong start to the second half and declared an interim divi of 4.8p a share, up from 3.2p last year.

Shares added 0.7% to 507p.

Quick facts: Barratt Developments

Price: 638.2 GBX

LSE:BDEV
Market: LSE
Market Cap: £6.5 billion
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