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09/02/2016
Redrow Announces 'Record' First Half Results
Redrow has announced 'record' first half results in its latest trading statement.
The house builder revealed its Group revenue rose 8% to £603 million, up from £560 million in 2015.
In addition, an 18% increase in completions [2,178 units] boosted the company's homes revenue by 14% to £584m.
However, despite the results, Chairman Steve Morgan said central London is the only area the Group has experience a slowdown.
"Demand for new homes was strong throughout the first half and the Government's Help to Buy scheme continues to give us the confidence to substantially increase output," Mr Morgan said.
"The only area where we have seen a slow-down is in Central London. However, this is only having a limited effect on the Group as we made the decision some time ago to re-focus our London business on Outer London where the demand is from the local market and remains robust."
(LM)
The house builder revealed its Group revenue rose 8% to £603 million, up from £560 million in 2015.
In addition, an 18% increase in completions [2,178 units] boosted the company's homes revenue by 14% to £584m.
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However, despite the results, Chairman Steve Morgan said central London is the only area the Group has experience a slowdown.
"Demand for new homes was strong throughout the first half and the Government's Help to Buy scheme continues to give us the confidence to substantially increase output," Mr Morgan said.
"The only area where we have seen a slow-down is in Central London. However, this is only having a limited effect on the Group as we made the decision some time ago to re-focus our London business on Outer London where the demand is from the local market and remains robust."
(LM)
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