Barratt Developments’ boss follows Berkeley founder’s lead and sells more than a third of his shares for £3.3m
Barratt Developments’ boss David Thomas
Barratt Developments’ boss has sold more than a third of his shares for £3.3 million.
David Thomas sold 500,000 shares for 660p each. He still has 823,000 Barratt shares worth £5.3 million.
The move came just weeks after Berkeley founder Tony Pidgley cut his stake in his company by a fifth – cashing in £37.2 million of shares.
The sales raise concerns that housing bosses believe the market has peaked.
And Taylor Wimpey warned rising costs and ‘flat’ house prices were putting pressure on its profits.
It reported first half sales of £1.7 billion, almost unchanged from the previous year, and said profits fell from £301 million to £299.8 million. The firm has proposed a 2019 dividend of 18.34p per share.