Market Report: Barat built on a strong foundation

Housebuilder Barratt was one of the best-in-class companies after avoiding the end of the stamp duty vacation and switching to Help to Buy to achieve strong sales of new homes.

The FTSE 100 company said it saw “continuous strength in customer demand” during the summer and booked about 281 homes weekly from July to October.

The company’s purchase orders expanded from £ 3.6bn in the previous year to £ 3.9bn, while average home sales costs rose from £ 331,400 to £ 344,300.

Building boom: Housebuilder Barratt said he saw “continuous strength of customer demand” during the summer

Barat also said he built 3,699 homes from 4,032 in the same period last year, benefiting from a surge in activity after the first blockade in the UK was eased.

As a result, the company has repeated plans to complete at least 17,000 homes in the year to June next year.

“The positive start of the new fiscal year has been going on for the past few weeks and personal bookings remain strong.

Stock Watch-Angling Direct

Fishing tackle retailer Angling Direct rose after improving its full-year earnings forecast due to strong performance in the first half of the year.

In the six months to August, the group made a profit of £ 3.7 million, more than double the £ 1.4 million in the year-ago quarter and revenue increased 19.5% to £ 38.4 million.

Angling Direct said it expects revenues of “more than £ 5m” for the year to the end of January 2022 … comfortably above current market expectations.

The stock price rose 10.9% (7p) to 71p.

This is encouraging given the significant year-on-year decline in Help to Buy bookings and the end of the stamp duty holiday.

“There is no significant disruption to the build program as a result of a difficult supply chain environment,” said Barratt boss David Thomas.

This valuation raised the stock price by 6.3%, or 40p, to 682.2p. Peel Hunt analysts were also impressed and upgraded the company from “add” to “buy”.

The news lifted other construction companies, with Vistry Group rising 4.7% (53p) to 1178p, Persimmon rising 3.6% (92p) to 2,657p, and Berkeley rising 1.7% (72p). At 4278p, Taylor Wimpey rose 3.9%. From cents (5.9p) to 155.3p, Red Low rose 2.4% (16p) to 670.8p.

The FTSE 100 moved very little, rising only 0.16 percent (11.59 points) to 7141.82, while the FTSE 250 rose 0.74 percent (166.37 points) to 22635.27.

Investors didn’t seem to know which direction to go after UK GDP data showed a recovery in August but below pre-pandemic levels.

Supply chain issues and the fuel crisis left many questions about whether momentum could be maintained.

British Gas owner Centrica confirmed stock prices fell 4.5%, or 2.8p to 58.3p, after postponing capital market events due to “unprecedented” volatility in the energy market ..

The company’s boss, Chris O’Shea, said the company was instead focusing on caring for customers who described it as an “unprecedented commodity price environment.”

Food delivery app Just Eat has reported that hungry UK households have placed 1 billion orders on the platform since its inception in 2001. This includes 266 million orders in the third quarter of this year.

Orders increased 25% compared to last year, but growth was slower than last quarter, with market share down 1.7% (92p) to 5414p.

Cybersecurity firm Darktrace jumped 7.7%, or 64.5p to 904.5p, after raising its full-year revenue guidance.

According to the company, it is expected to perform well in the three months to October, with sales up nearly 51% year-on-year and fiscal year 2022 sales up 37% to 39%. From previous quotes.

Asset manager Man Group was another strong mid-sized company after assets under management increased from £ 99 billion at the end of June to a record £ 102 billion in the three months to October.

The company emphasized the strong performance of “very strong” inflows and investments, adding that positive momentum is expected to continue in the next quarter.

Stock prices rose 7.6%. Or 15.4p to 218.2p.

Meanwhile, tax collector Marston fell 0.1% (0.05p) to 72.8p following the recovery in sales after the deregulation of the blockade in April.

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Market Report: Barat built on a strong foundation

Source link Market Report: Barat built on a strong foundation

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