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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Redrow plc    RDW   GB00BG11K365

REDROW PLC

(RDW)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 06/03 11:30:00 am
504.8 GBX   +3.61%
04/27REDROW : to reopen construction sites next month
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04/27REDROW : Trading Update
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04/20REDROW : COVID-19 Update
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Redrow : Housebuilder Redrow in talks with banks, Bank of England for financing

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03/27/2020 | 03:04am EDT
The company logo of construction company Redrow is pictured on a flag at a new housing development near Manchester northern England.

Redrow, one of Britain's largest housebuilders, is in talks with six banks to secure additional credit and has applied to take part in the Bank of England's scheme for financing support as it shuts sites due to the coronavirus pandemic.

The company, which says it has a strong balance sheet, will also furlough a "significant proportion" of its staff so they can secure funding from the government under an emergency state aid package for businesses..

"These are unprecedented times," Executive Chairman John Tutte said on Friday. "The actions we have announced today will give us the flexibility to manage the business through this turbulent period to ensure we are ready to resume production when it is safe to do so".

The coronavirus outbreak has ripped through the British economy, forcing workers to stay at home. As governments restrict public transport to key workers, construction sites have shut to prevent workers travelling in confined spaces and gathering in large groups.

Redrow said it would start an orderly and safe closure of all its sites and offices.

As a result, it has asked its banks for additional committed banking facilities over and above the current 250 million pounds revolving credit facility. It hopes to increase the additional 'accordion' facility of 50 million pounds that is available to 100 million pounds.

It said once it was safe to reopen its sites it would focus on fulfilling an order book that stands at 1.4 billion pounds.

(Reporting by Kate Holton; Editing by Edmund Blair and Mark Potter)

Stocks mentioned in the article
ChangeLast1st jan.
DEERE & COMPANY 2.55% 152.95 Delayed Quote.-13.92%
REDROW PLC 2.01% 496.099 Delayed Quote.-34.60%
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Financials
Sales 2020 1 493 M 1 879 M 1 879 M
Net income 2020 217 M 273 M 273 M
Net cash 2020 70,2 M 88,3 M 88,3 M
P/E ratio 2020 8,38x
Yield 2020 2,80%
Capitalization 1 671 M 2 095 M 2 103 M
EV / Sales 2019
EV / Sales 2020 1,07x
Nbr of Employees 2 325
Free-Float 77,6%
Chart REDROW PLC
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Technical analysis trends REDROW PLC
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 16
Average target price 600,80 GBp
Last Close Price 487,20 GBp
Spread / Highest target 89,9%
Spread / Average Target 23,3%
Spread / Lowest Target -15,8%
EPS Revisions
Managers
NameTitle
John Frederick Tutte Executive Chairman & Chief Executive Officer
Matthew John Pratt Chief Operating Officer & Director
Barbara May Richmond Group Chief Financial Officer & Executive Director
Andrew Nicholas Hewson Independent Non-Executive Director
Michael Thomas Lyons Independent Non-Executive Director
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