Deeside based Redrow posts record first-half revenue

Deeside based Redrow has reported a record first-half revenue as the order book increased to £1.5bn (2021: £1.3bn).

The housebuilder reported a near 17% rise in interim profit this morning.

Revenue for the 27 weeks to 2 January rose by £11m in the first half of the prior year to £1.052bn, with the increase attributed to a mix and house price inflation.

Profit before tax for the period rose by £29m to £203m.

Matthew Pratt, Group Chief Executive said: “Redrow continued to perform strongly in the first half, delivering record revenue for the period, which demonstrates the ongoing success of our strategy.”

“Our premium quality product is more in demand and attractive to customers than ever before and is perfectly suited to accommodating the blending of family and work life that many of us are experiencing.”

“By continuing to evolve our highly successful Arts & Crafts style Heritage Collection, we have capitalised on strong demand, improved sales margins and continued to invest for growth.”

Redrow now expects revenue of between £2.3bn and £2.4bn, compared to previous guidance of more than £2.2bn.