£BDEV (Barratt Developments) just released their yearly results.
Final Results for the year ended 30 June 2023 – Barratt Developments Plc
They don’t have a great outlook for next year, they reduced their dividend and cut on buybacks. (source FTSE 100 Live: Stocks hit as rising oil price sparks inflation fears | LSE:BDEV (proactiveinvestors.co.uk))
This is normal in my opinion, BDEV is going through a down cycle due to the current macro economical situation. According to what I have read, property is usually the first to be hit and usually the fastest to recover in a downturn. I will hold this stock for now, but I might reconsider my position once we are out of this cycle due to it’s high cyclicality. Do your own research.
They have also appointed a new board member Nigel Webb, which was working as Executive Committee at British Land Company plc (£LAND) which is a popular REIT.
UK House builders in general have been impacted by this report and are down today.