Barratt Posts Surge In Pretax Profit

Barratt Developments PLC (OTC: BTDPF) reported a strong rise in its full-year pretax profit.

Barratt's pretax profit for the period surged to 390.6 million pounds ($629.7 million), versus GBP104.5 million, in the year-ago period.

Its revenue surged 21% to GBP3.16 billion.

Barratt sold 14,838 homes, up 8.6% versus the year-ago period, at an average price of GBP241,600.

The company also declared a final dividend of 7.1 pence per share.

Chief Executive Officer Mark Clare said, "Our disciplined approach will support a further significant increase in performance this year."