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BRIEF-Builder Redrow posts H1 profit rise, sees further growth ahead
February 8, 2017 / 7:09 AM / 7 months ago

BRIEF-Builder Redrow posts H1 profit rise, sees further growth ahead

Feb 8 (Reuters) - Redrow Plc

* Legal completions (incl. jv) 2,459

* Revenue £739m

* H1 profit before tax £140m up 35 percent

* Medium term guidance updated with 2019 turnover of £1.9bn, operating margin of 19.5% and eps of 77p

* Legal completions rose 13% to 2,459 (2016: 2,178), including our croydon joint venture

* Private order book up 35% at £897m (dec 2015: £664m)

* In last six months legal completions increased by 13% to 2,459 adding to country’s much needed supply of new homes.

* Given strength of our sales position and land holdings our growth strategy is firmly on track, giving me every confidence this will be another year of significant progress for redrow

* We entered second half with a record order book, and customer traffic and sales remain robust. Source text for Eikon: Further company coverage: (London newsroom)

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