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Redrow PLC (RDW.L)

RDW.L on London Stock Exchange

598.00GBp
22 Mar 2019
Change (% chg)

-6.00 (-0.99%)
Prev Close
604.00
Open
608.00
Day's High
610.50
Day's Low
596.50
Volume
834,843
Avg. Vol
692,465
52-wk High
651.50
52-wk Low
455.80

Latest Key Developments (Source: Significant Developments)

Redrow H1 Pretax Profit Up 5 Pct To 185 Mln STG
Wednesday, 6 Feb 2019 

Feb 6 (Reuters) - Redrow PLC ::H1 PRETAX PROFIT ROSE 5 PERCENT TO 185 MILLION STG.H1 REVENUE ROSE 9 PERCENT TO 970 MILLION STG.FIRST HALF PRE-TAX PROFIT OF £185M, UP 5%.INTERIM DIVIDEND OF 10P PER SHARE (2018: 9P).HY TOTAL ORDER BOOK UP 11% TO A RECORD £1.162BN (DEC 2017: £1.047BN).HY LEGAL COMPLETIONS ROSE 12% TO 2,970 (2018: 2,646).MARKET DURING RUN UP TO FESTIVE PERIOD AND FIRST TWO WEEKS OF 2019 WAS SUBDUED BY MACROECONOMIC AND POLITICAL UNCERTAINTY.SALES OVER LAST THREE WEEKS HAVE BOUNCED-BACK WITH RESERVATIONS RUNNING AT SIMILAR LEVELS TO LAST YEAR'S STRONG MARKET ACTIVITY.OUR STRATEGY REMAINS ON TRACK GIVING ME EVERY CONFIDENCE THAT THIS WILL BE ANOTHER YEAR OF SIGNIFICANT PROGRESS FOR REDROW.PRIVATE SALES FOR FIRST 5 WEEKS OF 2019 WERE £156M (2018: £166M).EXPERIENCED A REDUCTION IN COST PRESSURES WITH SUB CONTRACT, MATERIALS AND LABOUR MARKETS ALL EASING.VALUE OF PRIVATE RESERVATIONS IN FIRST HALF WAS IN LINE WITH PRIOR YEAR AT £795M (2018: £795M)..FORWARD LAND HOLDINGS AT 31 DECEMBER 2018 ARE ALSO IN LINE WITH THOSE AT END OF JUNE AT 30,500 (JUNE 2018: 30,700).  Full Article

Redrow Wants Government To Review Regional Price Caps
Wednesday, 7 Nov 2018 

Nov 7 (Reuters) - Redrow PLC ::FOR FIRST 18 WEEKS OF CURRENT FINANCIAL YEAR, REDROW HAS TRADED IN LINE WITH EXPECTATIONS.LONDON SALES MARKET HAS REMAINED SUBDUED AFFECTED BY EXCESSIVELY HIGH STAMP DUTY TAX AND BREXIT UNCERTAINTY.OPERATIONAL CASHFLOW IS STRONG WITH NET CASH CURRENTLY STANDING AT £132 MILLION VERSUS NET DEBT £25 MILLION IN 2017.CONTINUE TO SEE GOOD DEMAND IN REGIONAL BUSINESSES WITH MOST SITES SOLD WELL IN ADVANCE.VALUE OF NET PRIVATE RESERVATIONS IN 18 WEEKS TO 3 NOVEMBER WAS IN LINE WITH LAST YEAR AT £588M (2018: £586M).SALES RATE PER OUTLET PER WEEK OVER 18 WEEK PERIOD WAS 0.64 COMPARED WITH 0.67 LAST YEAR, WITH SLIGHT REDUCTION DUE TO LONDON MARKET.AVERAGE SELLING PRICE OF PRIVATE RESERVATIONS FOR FIRST 18 WEEKS IS UP 4.6% AT £388,000 (2018: £371,000).TOTAL ORDER BOOK AT £1.2BN AT END OF 18 WEEKS TO NOV 3, AN 11% INCREASE ON THIS TIME LAST YEAR.WELCOME EXTENSION, ANNOUNCED IN BUDGET, OF HELP TO BUY SCHEME."URGE GOVERNMENT TO REVIEW REGIONAL PRICE CAPS THAT MARKEDLY DISADVANTAGE NORTH AND MIDLANDS IN FAVOUR OF SOUTH OF ENGLAND".  Full Article

UPDATE 1-UK homebuilder Redrow says cost pressures easing

Feb 6 British homebuilder Redrow Plc said on Wednesday it was seeing an easing of the Brexit and commodity-driven cost pressures that have plagued the UK housing market over the past year.