Posted: Tue 8th Sep 2015

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

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Tuesday, Sep 8th, 2015

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 ‌​‌‌​​​‌‍‌​‌​‌‌‌​‍‌​‌​‌‌​​‍‌​​‌‌‌‌​‍‌​​​​‌‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌‌​‌​‍‌​​​​‌‌​‍‌​‌‌‌‌‌​‍‌​​​‌‌​‌‍‌​​‌‌​‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌​‌‌​‍‌​​‌‌​‌​‍‌​​​‌​​‌‍‌​​‌‌​‌​‍‌​​​‌‌​​

Screenshot from 2015-09-08 07:17:16 ‌​‌‌​​​‌‍‌​‌​‌‌‌​‍‌​‌​‌‌​​‍‌​​‌‌‌‌​‍‌​​​​‌‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌‌​‌​‍‌​​​​‌‌​‍‌​‌‌‌‌‌​‍‌​​​‌‌​‌‍‌​​‌‌​‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌​‌‌​‍‌​​‌‌​‌​‍‌​​​‌​​‌‍‌​​‌‌​‌​‍‌​​​‌‌​​

  ‌​‌‌​​​‌‍‌​‌​‌‌‌​‍‌​‌​‌‌​​‍‌​​‌‌‌‌​‍‌​​​​‌‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌‌​‌​‍‌​​​​‌‌​‍‌​‌‌‌‌‌​‍‌​​​‌‌​‌‍‌​​‌‌​‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌​‌‌​‍‌​​‌‌​‌​‍‌​​​‌​​‌‍‌​​‌‌​‌​‍‌​​​‌‌​​

Prelims – Operating Review
8th September 2015
PDF, 97KB, Opens in a new window
Prelims – Financial Review
8th September 2015
PDF, 206KB, Opens in a new window
Prelims – Results
8th September 2015
PDF, 336KB, Opens in a new window
‌​‌‌​​​‌‍‌​‌​‌‌‌​‍‌​‌​‌‌​​‍‌​​‌‌‌‌​‍‌​​​​‌‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌‌​‌​‍‌​​​​‌‌​‍‌​‌‌‌‌‌​‍‌​​​‌‌​‌‍‌​​‌‌​‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌​‌‌​‍‌​​‌‌​‌​‍‌​​​‌​​‌‍‌​​‌‌​‌​‍‌​​​‌‌​​

Spotted something? Got a story? Send a Facebook Message | A direct message on Twitter | Email: News@Deeside.com

Latest News

  • North Wales Police: Crackdown on drink and drug drivers over the festive period
  • Official statistics show impact of pandemic on cancer survival rates in Wales
  • Flintshire politician challenges Welsh Government Minister over Wrexham Bidston line issues

  • More...

    North Wales Police: Crackdown on drink and drug drivers over the festive period

    News

    Official statistics show impact of pandemic on cancer survival rates in Wales

    News

    Flintshire politician challenges Welsh Government Minister over Wrexham Bidston line issues

    News

    15 million people likely to use unregulated Buy Now Pay Later to help ease seasonal spending

    News

    University of Chester spearheads discussion on the future of legal profession

    News

    Macmillan: Charity reports surge in crisis calls among cancer patients

    News

    Pontins Prestatyn ‘closing with immediate effect’

    News

    Flintshire headteachers issue 99 fines for persistent unauthorised pupil absences

    News

    Joint patrols to combat poaching in North East Wales

    News