Barratt Developments BDEV’s performance for the year to the 30th June was positively pedestrian compared to yesterdays results from Redrow but that does not stop Barratt claiming it has had another outstanding year with a strong operational and financial performance and its highest volumes in a decade. The increase of 4.7% in the final dividend, however, pales into insignificance compared to Redrows 65%. Profit before tax for the year rose by 9.2% and basic earnings per share by 8.5%. As at the 2nd September forward sales were ahead by 11.1%
Breedon Group BREE claims a resilient performance in a challenging market for the six months to the 30th June. Revenue rose by 16% but profit before tax fell by 3% although on an underlying basis it looked better with a rise of 15%. Ireland’s outlook was positive but the GB market continued to suffer from short-term challenges. The company say it is is comfortable with current market expectations.
Somero Enterprises plc SOM enjoyed robust trading in the US and Europe in the half year to the 30th June and is doubling its interim dividend with a payment of 0.055 cents per share. Revenue for the half year grew by 6% and profit before tax by 13%. Sales in Europe were particularly strong with a surge of 24%.
Xaar plc XAR’s woes continued in the half year to the 30th June with underlying revenue falling by 39% year on year, due largely to a 69% decline in its ceramics business which was exacerbated by a slower than anticipated uptake of new products, in particular the Xaar 1201 printhead . The interim dividend has been slashed from last years 3.4 pence per share to 1p per share to reflect expected cash requirement.
Quiz plc QUIZ will report today that it is pleased with the Group’s performance during the year to date and with the response to its summer product range. Despite an uncertain trading environment the group expects to continue with further strong growth.