Barrett Hits at Lack of Mortgages After Pounds 592m Loss ; Construction

Birmingham Post (February 26, 2009)

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Summary

Struggling house builder Barratt Developments announced yesterday that it had crashed with losses of almost pounds 600million after huge write downs in land values.

The company's pre-tax loss of pounds 592.4million in the six months to December 31 compared with a pounds 196.4million profit previously.

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Extract

Barrett Hits at Lack of Mortgages After Pounds 592m Loss ; Construction

The bulk of the losses in an "intensely difficult"marketcamefromapounds 494...

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