Final Results

Barratt Developments PLC
20 September 2000



                BARRATT DEVELOPMENTS PLC
                            
           PRELIMINARY RESULTS TO 30 JUNE 2000
                            
                  CHAIRMAN'S STATEMENT
                            
                            
The  Group has again delivered record results with pre-tax profits
rising  to  £143.9m  and  earnings per  share  up  by  31%.   This
excellent  performance extends our track record  of  uninterrupted
growth  over  the  past  eight  years,  an  achievement  which  is
unrivalled  in the housebuilding industry.  During  this  time  we
have  increased earnings per share by an average  of  over  20%  a
year.

We are well placed to maintain this consistent progress.  We ended
the  financial  year with record forward sales of over  £400m  and
since  1  July  we have continued to outperform the  market,  with
sales  reservations up by 6% year on year.  This  gives  us  great
confidence for the year ahead.

Group  results for the year ended 30 June 2000 show  all  our  key
financial statistics reached record levels:

*  Pre-tax  profit amounted to £143.9m against £112m the  previous
year, an increase of 28%.

*   Basic earnings per share amounted to 43.3p, against 33.1p  the
previous year, an increase of 31%.

*   Final dividend of 8.03p per share will be recommended, against
7.24p  the previous year, giving a total dividend for the year  of
11.88p, an increase of 10%, 3.6 times covered.

*  Turnover rose to £1,250m, against £1,009m the previous year, an
increase  of  24%.  In the UK we achieved 10,636  completions,  up
11%, at an average selling price of £112,600, an increase of 13%.

*  Shareholders' funds amounted to £529m, an increase of 16%.

*  Land  stocks  increased  from 29,200  plots  to  31,700  plots,
equating to three years' volume.

*   Net borrowings at 30 June 2000 amounted to £5.3m, a gearing of
1%  which highlights the emphasis placed on cash management.  This
continued    strong   balance   sheet   position   was    achieved
notwithstanding a £156m increased investment in our land stocks.

*   Return on capital employed was 29.3%, maintaining our position
amongst the highest in the industry.

The  consistency  of  the  Group's sales  performance  in  varying
markets  over  recent years has been our major strength.   In  the
more  difficult markets of 1995 and 1998 we were the only national
housebuilder  to significantly increase sales and maintain  growth
in  margin  and  earnings per share.  In the current  more  stable
market we are again demonstrating our resilience, increasing sales
reservations since 1 July by 6% year on year.

We  do  not  seek  nor do we expect any improvement  in  the  very
substantial  UK  housing market.  The recent  slowing  has  mainly
occurred  in  the South, however the South remains  the  strongest
regional market place and we are confident the overall market will
remain  significantly  robust  for our  growth  objectives  to  be
achieved.

Furthermore, this more stable housing market is already benefiting
the  land  market  and  easing pressures  on  construction  costs,
thereby helping to maintain margin growth going forward.

Over  the  past  right  years, we have successfully  expanded  our
operations   with  the  establishment  of  11  new   housebuilding
divisions.  In the year to 30 June 2000, 68% of our volume  growth
was  achieved  by  these new divisions and we  anticipate  further
volume and profit growth from them.  Additionally, on 1 July  this
year  a  further 4 new divisions became operational and we project
these  will  together deliver around 600 completions  in  our  new
financial year.

All  of our regions traded extremely successfully, increasing both
volume   and  profits  during  the  period.   The  Group  benefits
enormously  from a network of divisions covering all of  the  UK's
main  population bases. This wide geographic spread, coupled  with
our  diverse product range, enables us to provide homes across all
market  sectors  from  £40,000 up to £2.5m  and  also  facilitates
prompt  decision making and early reaction to changes in  regional
markets.

Through  our renowned part exchange service and a range  of  other
sales  initiatives we are able to rapidly adapt to varying markets
and maintain our volumes.  In the year some 22% of our buyers took
advantage of our part exchange service thereby securing a fast and
efficient  transaction.   We also completed  2,589  part  exchange
resales.

The  Group benefits from selling to all sectors of the market  and
this also assists our land acquisition programme.  We continue  to
progressively  increase  the quality  and  quantity  of  our  land
stocks.   In the year just ended, our expenditure on land amounted
to  £458m, increasing our stocks to 31,700 plots, equal  to  three
years' volume.

We   are  industry  leaders  in  urban  redevelopment   and
comfortably  exceed the Government's target of 60% of  development
on  brownfield sites, with over 70% achieved throughout the Group.
We  have  the  specialist  skills and a  proven  track  record  in
developing the more difficult sites and we are fully participating
in the regeneration of our cities and towns.

Our land buying teams have been highly successful and continued to
secure  sites in desirable locations of proven demand.   All  land
buying is stringently controlled to ensure best management of  the
Group's  financial resources and a full return on our  investment.
Our  success is reflected in the ongoing improvement in our margin
and our return on capital employed of 29.3%.

Our  operation  in  Southern California  continues  to  make  good
progress, with profits up by 150% to £4.0m and turnover up by  29%
to  £72m.   We  continue  to  enjoy  a  good  market  in  Southern
California which is supported by growing employment and a  buoyant
economy.   Our  strategic emphasis on re-investing in  the  better
markets  of  Southern California in sites of manageable investment
gives us confidence that our results will continue to improve.

In  the UK, the more recent stabilising of the market will help to
sustain  a  favourable market going forward.  Over  the  last  ten
years  fluctuations in the market, as evidenced in 1995 and  1998,
are becoming less pronounced as the Government and Bank of England
control the economy more effectively.  Modest movement in interest
rates  around  6% is part of this process.  Overall, the  mortgage
market  is  extremely competitive, house price  to  income  ratios
continue  to be favourable, the employment market is positive  and
personal  disposable income continues to rise.   All  of  this  is
supporting house buyer confidence.

The  Group  commenced  the new financial year  in  a  very  strong
position with a substantial increase in forward sales, up  17%  to
£403m.  Sales reservations since 1 July continue to show a healthy
increase  in  line  with  our projections and  our  selling  costs
compare  favourably  with  the  year  just  ended.   All  of  this
indicates further growth and margin improvement.

We have continued to strengthen our management team in tandem with
the  expansion of the business.  We have a highly experienced team
throughout  our countrywide operations which has demonstrated  its
ability to succeed in varying market conditions.  On behalf of the
Board  I  would like to thank all of our employees throughout  the
Group.   Our  record results could not have been achieved  without
their hard work, enthusiasm and skill.

Looking ahead we shall seek to build upon our proven track  record
and  our  corporate  objectives will continue  to  be  to  improve
earnings  per  share  and  generate  shareholder  value.   We  are
extremely  well-placed to continue this progress and we  face  the
future with great confidence.




Frank Eaton
Chairman                                     20 September 2000




The following are the unaudited results of the Group for the year
ended 30th June 2000.

1. GROUP PROFIT & LOSS ACCOUNT            Unaudited     Audited
   ---------------------------                 2000        1999
                                                 £m          £m
---------------------------------------------------------------
TURNOVER: Group and share
  of joint venture                          1,259.5     1,016.3
LESS: Share of joint venture
  turnover                                     (9.5)       (7.5)
----------------------------------------------------------------
GROUP TURNOVER                              1,250.0     1,008.8
================================================================

OPERATING PROFIT                              150.8       115.0

SHARE OF OPERATING PROFITS OF
  JOINT VENTURE                                 1.2         1.1
----------------------------------------------------------------

PROFIT BEFORE INTEREST AND TAXATION           152.0       116.1

INTEREST PAYABLE                               (8.1)       (4.1)
----------------------------------------------------------------

PROFIT ON ORDINARY ACTIVITIES BEFORE
  TAXATION                                    143.9       112.0

TAXATION                                      (43.7)      (34.7)
----------------------------------------------------------------

PROFIT ON ORDINARY ACITIVITES AFTER
  TAXATION                                    100.2        77.3

DIVIDENDS                                     (27.3)      (25.2)
----------------------------------------------------------------
RETAINED PROFIT                                72.9        52.1
================================================================



EARNINGS PER SHARE - BASIC                     43.3p       33.1p
----------------------------------------------------------------
EARNINGS PER SHARE - DILUTED                   43.1p       32.9p
----------------------------------------------------------------
DIVIDEND PER SHARE                             11.88p      10.80p
----------------------------------------------------------------
DIVIDEND COVER                                  3.6x        3.1x

All activities of the group are continuing.



2.  GROUP BALANCE SHEET                   Unaudited     Audited
    -------------------                        2000        1999
                                                 £m          £m
----------------------------------------------------------------
FIXED ASSETS
Tangible assets                                 2.2         1.3

Investment in joint venture:
  Share of gross assets                         9.6         6.8
  Share of gross liabilities                   (6.6)       (4.6)
----------------------------------------------------------------
                                                3.0         2.2

Other investments: interest in own
   shares                                      10.7         -
----------------------------------------------------------------
                                               15.9         3.5
================================================================

CURRENT ASSETS
Properties held for sale                        4.2         3.7
Stocks                                        981.0       818.3
Debtors due within one year                    17.7        20.7
Debtors due after more than one year            2.6         1.3
Bank and cash                                  46.9        63.6
----------------------------------------------------------------
                                            1,052.4       907.6
----------------------------------------------------------------

CURRENT LIABILITIES
Creditors due within one year                (476.3)     (429.5)
----------------------------------------------------------------

NET CURRENT ASSETS                            576.1       478.1
================================================================




TOTAL ASSETS LESS CURRENT LIABILITIES         592.0       481.6
CREDITORS DUE AFTER MORE THAN ONE YEAR        (63.3)      (27.3)
----------------------------------------------------------------

NET ASSETS                                    528.7       454.3
================================================================

CAPITAL AND RESERVES
Called up share capital                        23.4        23.4
Share premium                                 177.1       177.0
Profit retained                               328.2       253.9
----------------------------------------------------------------

EQUITY SHAREHOLDERS' FUNDS                    528.7       454.3
================================================================

NET ASSETS PER SHARE                          226p        195p
================================================================



3. GROUP SUMMARY CASH FLOW STATEMENT      Unaudited     Audited
   ---------------------------------           2000        1999
                                                 £m          £m
----------------------------------------------------------------

Net cash inflow from operating activities
      Operating profit                        150.8       115.0
      Increase in stocks                     (159.4)     (145.5)
      Decrease/(Increase) in debtors            3.0        (1.1)
      Increase in creditors                    57.7        78.0
      Other non cash movements                 (0.6)        0.1

----------------------------------------------------------------
                                               51.5        46.5
Returns on investments and servicing
  of finance                                   (6.7)       (5.9)
Taxation                                      (42.9)      (30.4)
Capital expenditure and financial
  investment                                  (11.5)       (1.1)
Acquisitions and disposals                      -           1.0
Equity dividends paid                         (25.8)      (24.0)
----------------------------------------------------------------
Cash outflow before financing                 (35.4)      (13.9)
Financing                                       9.7        (3.1)
----------------------------------------------------------------
Decrease in cash                              (25.7)      (17.0)
================================================================

Reconciliation of net cash flow to
  movement in net funds
Decrease in cash                              (25.7)      (17.0)
Cash flow from (increase)/decrease
  in debt                                      (9.7)        4.0
----------------------------------------------------------------
Change in net debt resulting from
  cash flows                                  (35.4)      (13.0)
Exchange movements                             (1.6)       (1.1)
----------------------------------------------------------------
Movement in net debt in the period            (37.0)      (14.1)
Net funds at 1st July                          31.7        45.8
----------------------------------------------------------------
Net (debt)/funds at 30th June                  (5.3)       31.7
================================================================

The  financial  information  set out  above  does  not  constitute
statutory  accounts within the meaning of the Companies Act  1985.
The  figures in the preliminary statement have been taken from the
group's statutory accounts which have not yet been signed but upon
which  the  auditors are expected to give an unqualified  opinion.
The figures for the year to 30th June 1999 are an extract from the
full  accounts  for  that  year which have  been  filed  with  the
Registrar  of  Companies  and  on  which  the  auditors  gave   an
unqualified opinion.

The  preliminary  financial information has been prepared  on  the
basis  of  accounting  policies set out in  the  company's  Annual
Report for the year ended 30th June 1999.




----------------------------------------------------------------
4.  (BANK DEBT)/CASH IN HAND                   2000        1999
     -----------------------                     £m          £m
----------------------------------------------------------------
Due within one year                           (27.4)      (32.6)

Due after more than one year                  (26.5)        -
----------------------------------------------------------------
                                              (53.9)      (32.6)

Loan to joint venture                           1.7         0.7

Bank and cash deposits                         46.9        63.6
----------------------------------------------------------------
Total (debt)/cash                              (5.3)       31.7
================================================================





5. DIVIDENDS
   ---------
The  directors propose a final dividend of 8.03p per  share  (1999
7.24p)  making  a  total for the year of 11.88p  per  share  (1999
10.80p).  It is proposed that the final dividend will be  paid  on
17th  November 2000, to shareholders on the register, at close  of
business, on 6th October 2000.

6. EARNINGS PER SHARE
   ------------------
Basic  earnings  per ordinary share is based on the  profit  after
taxation  of  £100,161,000  (1999 £77,276,000)  and  the  weighted
average  number  of  ordinary shares  in  issue  and  ranking  for
dividend  during the year of 231,075,267 (1999 233,150,270).   For
diluted earnings per share, the weighted average number of  shares
in  issue  and  ranking  for dividend is adjusted  to  assume  the
conversion  of all dilutive potential shares.  The effect  of  the
dilutive  potential  shares is 1,526,567  (1999  1,446,842),  this
gives  a  diluted weighted average number of shares of 232,601,834
(1999 234, 597,112).

7. NET ASSETS PER SHARE
   --------------------
Net asserts per ordinary share are based on the net assets at 30th
June  2000  of £528.7m (1999 £454.3m) and the number of shares  in
issue at that date of 233,527,024 (1999 233,506,472).

8. TAXATION
   --------
No taxation arises on US operations, (1999 Nil).

----------------------------------------------------------------

for further information:

Mr C.A. Dearlove             or   Ms .Chris Lynch/Mr Graham Herring
Group Finance Director            Golin/Harris Ludgate
Barratt Developments PLC          Telephone: [phone]
Telephone: [phone]          

Further  copies  of  the announcement can  be  obtained  from  the
Company's Registered Office:

Barratt   Developments  PLC,  Wingrove  House,   Ponteland   Road,
Newcastle upon Tyne, NE5 3DP.