Housebuilder’s record order book provides foundation for optimism
Housebuilder Redrow remains confident in the strength of its foundations as it emerges from a Covid-hit year with a record order book.
The FTSE 250 company saw pre-tax profits fall 66% to £140m in the year to June, which it ascribed to the "profound impact" of the pandemic.
Completions were down by 37%, to 4,032 homes, as the market largely stopped in the final months of its financial year.
Redrow's profits were also hit by impairments and costs of £35m from the scaling back of its London business. It is now just focusing o... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
