British housebuilder crashes to €670m loss

Struggling British housebuilder Barratt Developments today said it had crashed to losses of almost £600m (€670m) after huge writedowns in land values.

British housebuilder crashes to €670m loss
Wed, 25 Feb, 2009 - 08:08

Struggling British housebuilder Barratt Developments today said it had crashed to losses of almost £600m (€670m) after huge writedowns in land values.

The firm’s pre-tax loss of £592.4m (€670m) in the six months to December 31 compared with a £196.4m (€222m) profit previously.

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