Redrow (RDW)

Sector:

Household Goods

Index:

FTSE 250

491.60p
   
  • Change Today:
      1.80p
  • 52 Week High: 718.80p
  • 52 Week Low: 478.17p
  • Currency: UK Pounds
  • Shares Issued: 352.19m
  • Volume: 318,180
  • Market Cap: £1,731.37m
  • RiskGrade: 176

Redrow closes all sites, in talks with banks about more credit

By Michele Maatouk

Date: Friday 27 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Redrow said on Friday that it was closing all of its sites and offices due to the coronavirus and is in talks with banks about securing more credit.
In response to government guidelines about social distancing, the housebuilder initially reduced the workforce on its sites. However, it said this had become increasingly "impracticable" as the supply chain has been "significantly" impacted in recent days and as a result, it has begun the orderly and closure of its sites and offices.

The company insisted it has a "strong" balance sheet but said the closures and the need to retain some flexibility for a prolonged period of inactivity mean it has begun talks with its syndicate of six banks about additional committed banking facilities over and above the current ?250m revolving credit facility.

It plans to increase the additional 'accordion' facility of ?50m that is available to it to ?100m. In addition, it has submitted an application to the Bank of England for eligibility for the government's Covid-19 Corporate Financing Facility.

"We are continuing to work proactively to protect our cash flow, and in addition to the measures we announced earlier in the week, we will immediately commence 'furloughing' a significant proportion of our employees under the government's Job Retention Scheme," it said.

Once the supply chain returns to normal and the company deems it safe for the workforce to go back to work, Redrow will reopen sites and pick up production again, with an initial focus on fulfilling its order book.

Executive chairman John Tutte said: "These are unprecedented times. The actions we have announced today will give us the flexibility to manage the business through this turbulent period to ensure we are ready to resume production when it is safe to do so."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Redrow Market Data

Currency UK Pounds
Share Price 491.60p
Change Today 1.80p
% Change 0.37 %
52 Week High 718.80p
52 Week Low 478.17p
Volume 318,180
Shares Issued 352.19m
Market Cap £1,731.37m
RiskGrade 176

Redrow Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
93.82% above the market average93.82% above the market average93.82% above the market average93.82% above the market average93.82% above the market average
84.00% above the sector average84.00% above the sector average84.00% above the sector average84.00% above the sector average84.00% above the sector average
Price Trend
21.05% below the market average21.05% below the market average21.05% below the market average21.05% below the market average21.05% below the market average
28.57% above the sector average28.57% above the sector average28.57% above the sector average28.57% above the sector average28.57% above the sector average
Income
89.63% above the market average89.63% above the market average89.63% above the market average89.63% above the market average89.63% above the market average
40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average
Growth
70.26% above the market average70.26% above the market average70.26% above the market average70.26% above the market average70.26% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average

What The Brokers Say

Strong Buy 13
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 14
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Redrow Dividends

  Latest Previous
  Interim Final
Ex-Div 24-Feb-22 23-Sep-21
Paid 08-Apr-22 17-Nov-21
Amount 10.00p 18.50p

Trades for 01-Jul-2022

Time Volume / Share Price
16:45 8 @ 488.60p
16:45 8 @ 488.60p
16:45 48 @ 488.60p
16:45 48 @ 488.60p
16:35 144,480 @ 491.60p

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