LONDON (dpa-AFX) - Barratt Redrow Plc (BTDPY, BTDPF, BTRW.L), a residential property developer, reported Wednesday higher profit and revenues in its fiscal 2025, mainly with growth in home completions. Further, the company lifted dividend, and issued fiscal 2026 home completions outlook, expecting year-over-year growth.
In fiscal 2025, profit before tax grew to 273.7 million pounds from 170.5 million pounds last year. Earnings per share improved to 13.3 pence from prior year's 11.6 pence.
Adjusted profit before tax was 488.3 million pounds, compared to 385.0 million pounds a year earlier. Adjusted earnings per share were 25.0 pence, compared to 27.8 pence last year.
Adjusted profit before tax and before Redrow purchase price allocation or PPA adjustments was at 591.6 million pounds. Adjusted basic earnings per share before the impact of PPA adjustments was 30.8 pence per share.
Revenue from continuing operations for the year grew to 5.58 billion pounds from last year's 4.17 billion pounds.
Total home completions in the year climbed 18.3 percent to 16,565 homes from 14,004 homes a year ago.
Further, the Board recommended a final FY25 dividend of 12.1 pence per share, higher than last year's 11.8 pence per share. The total proposed dividend for FY25 is 17.6 pence per share, 8.6 percent higher than the prior year.
Subject to shareholder approval, the final dividend will be paid on November 14 to shareholders on the register at the close of business on October 10.
Looking ahead for fiscal 2026, the company expects to deliver total home completions of between 17,200 and 17,800, including around 600 JV completions.
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