Ewloe housebuilder Redrow Homes smashes the £1bn turnover mark and record profit

Redrow the Ewloe headquartered housebuilder has revealed this morning it has smashed through the £1 billion turnover mark with another set of record results.

The group sold over 4000 homes in the UK last year helping revenue to rise by 33% to a record £1.15bn.
The rise in revenue saw record pre-tax profit of £204m, up 53% in the financial year to 30 June 2015.

Steve Morgan, Chairman of Redrow, said:

“I am pleased to announce another set of record results. For the first time in our history, we generated turnover in excess of £1bn, up 33% on last year.

We built and sold over 4,000 homes across the UK last year, up 12% from the year before and around 42% more than in 2013.

Pre-tax profits also reached record levels, up 53% as we saw the benefit from our early site acquisitions post the downturn.

This strong performance has led the Board to propose a dividend of 4p per share, double that paid in the last financial year.

Looking ahead, we have a strong pipeline of attractive sites in excellent locations and a high
quality industry leading product.

We have entered the year with a record order book and reservations to date are running 5% ahead of last year at 0.68 sales per outlet per week.

We have secured 820 private reservations in the first 10 weeks, some 28% ahead of last year.

Redrow is in great shape and I am looking forward to another year of significant progress.”

Results snapshot

Prelims – Operating Review
8^th September 2015

Prelims – Financial Review
8^th September 2015

Prelims – Results
8^th September 2015