Barratt Shares Tumble Amid Pressure on Homebuilder’s Margins

Barratt Redrow Plc shares fell as much as 8.4% Wednesday after its half-year results showed increased pressure on the UK housebuilder’s profitability.

The company’s margin was squeezed to 8% from a restated 9.3% a year earlier following its acquisition of Redrow, according to a statement Wednesday. Adjusted pretax operating profit before the impact of accounting changes was £210.2 million ($288 million) in the 26 weeks to Dec. 28, 0.3% below the same period a year earlier.