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Prices & Quotes - UK Markets - Redrow (RDW)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 642.20p
Change Today:
0.80p
Market Cap:
2,261.77m
Sector:
Household Goods & Home Construction

Housebuilder Redrow to restart construction in May

By Michele Maatouk

Date: Monday 27 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Housebuilder Redrow announced plans on Monday for a phased return to construction on 18 May.
The company, which closed all of its sites on 27 March after the coronavirus lockdown was implemented, noted the government's message that it would like to see construction sites operating "provided they can do so safely with stringent social distancing measures in place".

Redrow said mobilisation will include putting "robust social distancing protocols and physical measures in place".

The housebuilder said net reservations have been running at very low levels since the lockdown was imposed.

"Important to a return to more normal trading conditions will be a relaxation of the government's ongoing advice about moving home, which currently recommends deferring any move unless there is no alternative, and the reopening of sales complexes that remain closed under lockdown restrictions," it said.

"We will be guided by our customers to judge if it is safe for them to move."

The company said it has a "strong" balance sheet. In April, it generated ?62m of cash from legal completions. In addition, a number of land payments have been successfully deferred into 2021 and later. As a result, net debt at the end of June is now expected to be around ?200m.

Redrow also recently extended its revolving credit facility to ?350m and has been accepted as an issuer under the government's Covid Corporate Financing Facility with an issuer limit of ?300m. It has an order book of more than ?1.3bn, of which ?0.9bn is contracted.

Executive chairman John Tutte said: "I am grateful to my colleagues and our supply chain partners for the exceptional work they continue to undertake to ensure we can make a measured, responsible and safe return to work next month."

Housebuilders such as Taylor Wimpey, Vistry and Persimmon announced last week that they would be reopening their sites.

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

 

Redrow Market Data

Currency UK Pounds
Price 642.20p
Change Today 0.80p
52 Week High 712.00p
52 Week Low 361.20p
Volume 247,947
Shares Issued 352.19m
Market Cap 2,261.77m

Performance Indicators

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What The Brokers Say

Strong Buy 11
Buy 0
Neutral 1
Sell 1
Strong Sell 0
Total 13
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 Interim
Ex-Div 25-Feb-21 n/a
Paid 09-Apr-21 n/a
Amount 6.00p 0.000p

Trades for 22-Jun-2021

Time Volume / Share Price
14:39 104 @ 642.20p
14:39 272 @ 642.40p
14:39 58 @ 642.40p
14:39 42 @ 642.20p
14:39 25 @ 642.20p

Redrow Key Personnel