Half Year Results 

Record half-year profits from Barratt Developments

Record half-year profits from Barratt Developments

Macroeconomic worries have pushed down valuations for housebuilders by around 10 per cent on average since the start of the year. Barratt Developments (BDEV) hasn't escaped the sector-wider markdown, which may seem curious given it has delivered record first-half profits. So, this might be an attractive entry point given it now trades on a forward price earnings ratio of nine, with a price/net asset value ratio of 1.5 against 1.7 for the sector – the shares are also on a prospective yield for the year to June 2018 of 7.7 per cent.

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