Redrow defies housing slump
19th September 2012
Steve Morgan, chairman, Wolverhampton Wanderers
HOUSEBUILDER Redrow has not been affected by the depressed housing market - full-year profits jumped 70%, helped by an increase in average selling prices.Pre-tax profit was up to £43m (2011: £25.3m). Revenue increased by 5.8% to £478.9m (2011: £452.7m). The revenue increase was driven by a 15% increase in average selling prices.Redrow’s operating margin rose from 7.5% (excluding Scotland) to 10% as a result of increased sales from sites purchased since the downturn, improved product mix and the b......for the full story register now for free or login below...





