BUZZ-UK's Barratt Redrow tops FTSE 100 on upbeat annual profit outlook, buyback

Reuters02-12

** Shares of homebuilder Barratt Redrow BTRW.L up as much as 9.4% at 478.2p, their highest level since October 30, 2024

** Top pct gainer on FTSE 100 index .FTSE, which is up 0.1%

** Co forecasts FY adj pre-tax profit towards upper end of market view vs analysts' expectation of 243 million pounds to 588.4 million pounds ($302.75 million to $733.09 million), according to LSEG-compiled data

** Initiates 100 million pound per annum share buyback

** "As economic, political and lending environments have stabilised, there has been some recovery in customer demand and we have seen solid reservation activity since start of January," - CEO David Thomas

** Stock fell 21.8% in 2024

($1 = 0.8026 pounds)

(Reporting by DhanushVignesh Babu in Bengaluru)

((DhanushVignesh.Babu@thomsonreuters.com;))

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