By Anthony O. Goriainoff

Barratt Redrow shares fell after the housebuilder reported a fall in adjusted earnings for the first half of its fiscal year and cut its dividend.

Shares are down 5.2% at 368.90 pence in morning European trading. They are currently down 3.2% over the year to date.

The London-listed company said Wednesday that it will pay a dividend of 5.0 pence a share for the half-year ended Dec. 28, compared with 5.5 pence for the comparable period a year earlier.

It also reported a 14% fall in adjusted pretax profit to 199.9 million pounds ($272.7 million) and a 22% lower adjusted earnings per share of 10.0 pence.

The company attributed its performance to low consumer confidence and high economic and political uncertainty. It added that the late budget also created further uncertainty for buyers, but that fell away as customers rushed to complete home purchases before Christmas.

Despite the weaker first half, the company said it expects adjusted pretax profit for the year to be within analysts' forecast ranges, which it supplied as 558 million pounds to 617 million pounds. This compares with 488.3 million pounds for the year ended June 29, 2025.

The company's guidance is supported by its forward order book, which stood at 11,168 homes worth 3.41 billion pounds on Feb. 1. This compares with 10,903 homes worth 3.35 billion pounds as of Feb. 2, 2025.

The company also backed previous guidance to sell between 17,200 to 17,800 homes this fiscal year. It sold 7,444 homes in the first half, up from 7,107 for the comparable period a year earlier.

Meanwhile, smaller U.K. house builder MJ Gleeson reported lower profits for its first half-year and cited caution over its full-year performance. MJ Gleeson shares are down 35.0 pence, or 8.9% at 360 pence. They are currently down 15% over the year to date.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

February 11, 2026 05:16 ET (10:16 GMT)

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