Wednesday, February 25, 2009
Barratt Developments headed the same route as Barratt Shoes?
UK housebuilder Barratt Developments has reported a loss of almost £600m in the second half of 2008 after having to write down the value of land it owns. It reported a pre-tax loss of £592.4m from a £192.4m profit a year earlier. Though it said there were "some signs" of increased activity in the housing market, it added mortgage availability was hampering demand for new homes. The results came a day after rival Redrow also said it had fallen from a profit to a loss in the same period.