Barratt Developments BDEV Completions in the year to the 30th June rose by a lowly 0.4% on 2016 but it was still the highest volume for nine years, enabling Barratt to claim another excellent year which produced a strong operational and financial performance. The final dividend is being increased by 39% in addition to a 17.3p per share special dividend. Profit before tax rose by 12.1% and basic earnings per share by 11.3p. No mention is made this time round of what happened to the average house price but the tiny rise in completions produced a 9.4% rise in revenue, so perhaps that speaks for itself. The future still looks rosy with forward sales as at the 3rd September up by 13.8%.
McCarthy & Stone MCS managed to complete only 6 more sales in the year to the 31st August than it did in 2016 despite a strong recovery in the second half which saw a strong upward momentum in the average selling price, which is set to continue into the current year. For the year as a whole the average selling price rose by 3% and revenue by 4%. The forward order book at he year end was 21% head of last year.
Sports Direct SPD provides a trading update ahead of today’s much anticipated AGM. The only statistic provided is that underlying EBITDA for 2018 is expected to grow by between 5% and 15% which appears to indicate a certain amount of uncertainty amongst senior management as to the eventual outcome of the years trading. The company’s obsession with becoming the Selfridges of sport seems to continue and Mike Ashley admits it is their strategic goal and that in fact they are exceeding their expectations in moving towards it.
WANdisco WAND claims an outstanding performance in the six months to the 30th June with total bookings up by 73%, revenue by 71% and its first ever positive EBITDA of $0.3m. compared to last years first half loss of $4.5m. The result of this success is that the statutory operating loss fell from $17.9m to $3.8m. The order book is strong and the second half sales pipeline is gathering pace. Its latest Fusion version is claimed to have a broad appeal across multiple verticals, which presumably it regards as a good thing.