Redrow (RDW)

Sector:

Household Goods

Index:

FTSE 250

641.60p
   
  • Change Today:
    -4.60p
  • 52 Week High: 718.80
  • 52 Week Low: 521.00
  • Currency: UK Pounds
  • Shares Issued: 352.19m
  • Volume: 111,277
  • Market Cap: £2,259.65m
  • RiskGrade: 176
  • Beta: 0.02

Redrow full-year profit more than doubles

By Michele Maatouk

Date: Wednesday 15 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Redrow posted a rise in full-year profit on Wednesday as the housebuilder said it expects sales rates to return to historical averages over the course of the current financial year.
In the year to 27 June, pre-tax profit increased to £314m from £140m the year before, with revenue up 45% at £1.94bn. Compared to pre-pandemic levels in 2019, revenue was down only 8%.

Legal completions were 39% higher on the year at 5,620 and Redrow said house price inflation more than offset build cost increases.

"A strong market emerged from the lockdown driven by the Stamp Duty holiday and, in the earlier part of the year, by keen demand from buyers that would be excluded from the Help to Buy scheme after March 2021," the company said.

"The potential for a hiatus in the 2021 Spring market that we highlighted last year didn't materialise as the Chancellor decided to extend the Stamp Duty holiday to September 2021 with a phased return to previous rates."

With the market now back to "normal", Redrow set out its medium-term guidance. For 2024, it expects revenue of more than £2bn, earnings per share of approximately 90p and an operating margin of 19.5%.

Redrow proposed a final dividend of 18.5p a share, taking the total dividend for the year to 24.5p, in line with its policy of three times dividend cover.

Chairman John Tutte said: "The buoyant housing market has moderated in recent months and we anticipate sales rates will return to historically average rates over the course of the current financial year.

"It is on this basis we have planned for the future and we are confident our timely investment in land, combined with strong demand for our Heritage homes, will support our longer-term growth aspirations. Additionally, our record order book also provides us with an excellent platform for the future with over £1.3bn of revenue already secured for the current financial year. As a result, the business is well-placed to deliver another set of strong results."



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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 641.60p
Change Today -4.60p
% Change -0.71 %
52 Week High 718.80
52 Week Low 521.00
Volume 111,277
Shares Issued 352.19m
Market Cap £2,259.65m
Beta 0.02
RiskGrade 176

Redrow Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
88.19% above the market average88.19% above the market average88.19% above the market average88.19% above the market average88.19% above the market average
92.00% above the sector average92.00% above the sector average92.00% above the sector average92.00% above the sector average92.00% above the sector average
Price Trend
17.67% above the market average17.67% above the market average17.67% above the market average17.67% above the market average17.67% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Income
90.35% above the market average90.35% above the market average90.35% above the market average90.35% above the market average90.35% above the market average
76.47% above the sector average76.47% above the sector average76.47% above the sector average76.47% above the sector average76.47% above the sector average
Growth
84.91% above the market average84.91% above the market average84.91% above the market average84.91% above the market average84.91% above the market average
92.00% above the sector average92.00% above the sector average92.00% above the sector average92.00% above the sector average92.00% above the sector average

What The Brokers Say

Strong Buy 13
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 15
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
  Final Interim
Ex-Div 23-Sep-21 25-Feb-21
Paid 17-Nov-21 09-Apr-21
Amount 18.50p 6.00p

Trades for 18-Jan-2022

Time Volume / Share Price
12:40 17 @ 641.60p
12:39 390 @ 642.20p
12:38 1 @ 642.06p
12:36 155 @ 642.03p
12:33 1 @ 641.40p

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