BARRATT DEVELOPMENTS

Housebuilders came under pressure on Wednesday after figures showing a surge in inflation dashed hopes for a Bank of England interest rate cut next month. Barrat Redrow PLC shed 2.7% to lead the drop among its FTSE 100 peers after ONS data showed headline inflation at 3.0% in the year to January, against December's 2.5%.» Mehr auf proactiveinvestors.co.uk

Shares in Springfield Properties PLC jumped over 10% to 108.62p after the Scottish housebuilder increased profits and announced a significant land sale to Barratt Redrow. The land sale to the FTSE 100 group covered 2,480 plots across six sites for £64.2 million, 1.3 times book value, with the proceeds to be received over four years and used to cut bank debt and "capitalise on the significant opportunities in the North of Scotland".» Mehr auf proactiveinvestors.co.uk

Barratt Redrow PLC (LSE:BTRW) said following the merger agreed last year it plans to make shareholder returns including £100 million of share buybacks per year based on a new annual 22,000 homes sales target. The FTSE 100 housebuilder said it expects the growth of the business will generate “significant free cash flow in the medium term”, leading to the plan to resume share buybacks with a £50 million programme in the second half of this financial year.» Mehr auf proactiveinvestors.co.uk