Barratt unveils new growth targets

Macroeconomic concerns may be pushing down share prices within the housebuilding sector, but Barratt Developments (BDEV) is confident about the strength of the UK market, including a new range of targets with its figures for the year to June 2018. Over the medium term, it is targeting between 3 and 5 per cent annual volume growth, with land acquisition carrying a minimum hurdle rate of 23 per cent gross margin, while the return on capital employed has been set at a minimum of 25 per cent.