Redrow touts ‘record’ order book as revenue climbs towards pre-Covid levels September 15, 2021 Revenue at housebuilder Redrow has begun climbing towards pre-pandemic levels, as it touts a “record” order book after reinstating a dividend for loyal shareholders. Revenue hit £1.94bn in the year to 27 June, just eight per cent behind 2019, after it soared 45 per cent from 2020’s supressed figure. Profit before tax surged 124 per [...]
Redrows expects turnover to hit nearly £2bn following strong house sales July 7, 2021 UK housebuilder Redrows expects turnover for its 2021 financial year to be £1.94bn, following strong sales in the housing market this year. A turnover of £1.94bn would be a marked increase from 2020’s £1.34bn, but below 2019’s £2.11bn. In an market update this morning, Redrows said legal completions are expected to be 5,620 for the [...]
Redrow appoints property veteran as new chairman as ex-CEO steps down after 20 years May 12, 2021 Redrow has appointed property industry veteran Richard Akers as its new chairman as former chief executive John Tutte prepares to step down after 20 years on the housebuilder’s board. Akers, a former director at commercial landlord Landsec, will join Redrow’s board as chair-designate on 1 June before taking on the role permanently from 15 September. [...]
Redrow plans to reinstate dividend as London exit progresses November 6, 2020 Redrow announced it has made progress on pulling out of the London market as the developer focuses on the post-pandemic changes in consumer behaviour, saying it will reinstate its dividend at its half-year results. The housebuilder said it has exited three of the six London sites it had decided not to develop and is continuing [...]
Housebuilder Redrow takes £35m hit on pulling out of London market September 16, 2020 Redrow’s profit sank 66 per cent in the last financial year due to the “profound impact” of the coronavirus pandemic, which prompted the housebuilder to take a £35m hit on pulling out of the London market. The figures Turnover for the year plunged 37 per cent to £1.34bn as the number of completions plummeted due [...]
UK housebuilders race to return to work after government eases restrictions May 14, 2020 Some of the UK’s biggest housebuilders have revealed plans to return to work after the government removed lockdown restrictions on the property market. FTSE 100 housebuilder Persimmon said this morning that its sales offices in England will reopen from tomorrow with social distancing measures in place. It comes after the government removed restrictions to allow [...]
Coronavirus: Redrow secures £300m facility through BoE’s emergency scheme April 9, 2020 Housebuilder Redrow has secured a £300m lending facility under the Bank of England’s emergency coronavirus financing scheme. The developer, which has furloughed 80 per cent of its staff using the job retention scheme, is also in talks to extend its existing revolving credit facility by £100m to £350m. Redrow said this morning that it expects [...]
Housebuilder Redrow’s profit falls 15 per cent February 5, 2020 Housebuilder Redrow hailed what it called a “robust” performance in the six months to December, despite posting a 15 per cent fall in profit amid “an uncertain political and economic background”. The figures Redrow revealed profit before tax sank 15 per cent year on year to £157m in the first half of its 2020 financial [...]
Conservative election victory sparks sharp recovery in housebuilder stocks December 13, 2019 The uncertainty surrounding Brexit and the country’s future has long been blamed as a source of the property market’s recent struggles. However a sizeable Conservative majority in the general election has already resulted in a sharp rise in housebuilder stocks. FTSE 100 firm Taylor Wimpey’s share price rose by 11.4 per cent in early morning [...]
Redrow suffers shareholder revolt over chairman role and executive pay November 6, 2019 Housebuilder Redrow suffered a shareholder revolt at its annual general meeting today as around a third of investors voted against the appointment of its executive chairman and payment plans for senior management. At the meeting in central London today, 31.38 per cent of shareholders voted against the re-appointment of John Tutte as executive chairman, while [...]