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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 661.80p
Change Today:
2.40p
Market Cap:
2,330.80m
Sector:
Household Goods & Home Construction

Redrow reservations rise as lockdown workers seek more space

By Frank Prenesti

Date: Friday 06 Nov 2020

LONDON (ShareCast) - (Sharecast News) - House builder Redrow reported a rise in reservation values as customers look for homes with more space to work based on coronavirus lockdown experiences.
The company on Friday said the value of net private reservations in the 18 weeks to October 30 was 630mln, up 5% year on year, with the regions 17% higher.

Chairman John Tutte said there had been "resolute demand for homes with more space to live and work as customers reflect on their lockdown experiences".

It added that building teams would continue to work during the new lockdown that came into force on Thursday. Sales offices will remain open, other than in Wales where they are temporarily closed due to restrictions.

"In any event, customers are able to progress transactions through our online portal and we anticipate the handover of homes will be unaffected," Redrow said in a statement ahead of its annual meeting on Friday.

Private revenue per outlet per week on a like-for-like basis was 302,000 compared to 262,000 last year and the average selling price of private reservations rose 2% to 396,000. Homes turnover jumped 48% to 657mln.

Redrow said it continued to expect to reinstate dividend payments at the half year and to be cash positive for the remainder of the financial year. At October 30 it had net cash of 115m compared to net debt 32m in 2019.

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 661.80p
Change Today 2.40p
52 Week High 712.00p
52 Week Low 361.20p
Volume 211,805
Shares Issued 352.19m
Market Cap 2,330.80m

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What The Brokers Say

Strong Buy 10
Buy 0
Neutral 1
Sell 1
Strong Sell 0
Total 12
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 14-Jun-2021

Time Volume / Share Price
14:01 517 @ 661.40p
14:00 15 @ 661.61p
14:00 141 @ 661.80p
14:00 192 @ 661.60p
14:00 148 @ 661.60p

Redrow Key Personnel