Barratt reports huge losses

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Barratt Developments are one of the major players within the construction industry, so it was very likely from the start that they would find them selves in major financial difficulty throughout the credit crunch.
That has been confimed when their £194m profit last year turned into a £600m loss for the last financial year.

Barrat reports huge losses

UK housebuilder Barratt Developments has reported a loss of almost £600m in the second half of 2008 after having to write down the value of land it owns.
It saw a pre-tax loss of £592.4m, down from a £192.4m profit a year earlier.