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

REDROW PLC

(RDW)
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Many British employers mull smaller offices post-COVID - survey

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06/30/2020 | 08:59am EDT
FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in London

Roughly half of UK's employers are planning to reduce office space and stagger return to work as Britain eases restrictions following a three-month COVID-19 lockdown, according to a survey by recruiter Robert Walters.

Remote working will become more prevalent in a post-COVID world, the survey showed, as companies assess cost savings as well as health risks to staff.

Around 44% of employers are considering cutting down physical office space and 49% are planning to spread out employees' return to work, according to the survey which polled 2,200 companies.

Last week, Britain's financial services minister said some banks would cut office space in London's financial district as they "reset" their operations.

Several companies across the world have extended work from home options for their staff, with U.S. social media giant Facebook saying last month it will permanently embrace remote work even after lockdowns ease.

"It can be daunting for companies who have been going through a difficult period to consider spending money on their physical workspace, technical infrastructure or general operations," said Robert Walters Director Lucy Bisset.

Three quarters of British employers admitted that their senior team have not been equipped to manage teams remotely, and will need new training to adapt, the survey added.

It also found that 87% of employees would like more opportunities to work from home post-return and 21% stated that they would like to work from home permanently.

Homebuyers are already showing in interest in buying bigger houses with better home workspace and gardens, major housebuilder Redrow noted on Tuesday.

(Reporting by Yadarisa Shabong and Indranil Sarkar in Bengaluru; Editing by Saumyadeb Chakrabarty)


Stocks mentioned in the article
ChangeLast1st jan.
FACEBOOK INC -0.22% 278.12 Delayed Quote.35.80%
REDROW PLC 2.07% 452.6 Delayed Quote.-40.48%
ROBERT WALTERS PLC -0.96% 412 Delayed Quote.-25.18%
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Financials
Sales 2021 1 685 M 2 216 M 2 216 M
Net income 2021 203 M 267 M 267 M
Net cash 2021 66,3 M 87,2 M 87,2 M
P/E ratio 2021 7,59x
Yield 2021 3,72%
Capitalization 1 522 M 2 001 M 2 002 M
EV / Sales 2021 0,86x
EV / Sales 2022 0,73x
Nbr of Employees 2 364
Free-Float 77,6%
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Technical analysis trends REDROW PLC
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Average target price 576,14 GBX
Last Close Price 4,43 GBX
Spread / Highest target 16 815%
Spread / Average Target 12 894%
Spread / Lowest Target 8 470%
EPS Revisions
Managers
NameTitle
Matthew John Pratt Group CEO, COO & Director
John Frederick Tutte Non-Executive Chairman
Barbara May Richmond Group Chief Financial Officer & Executive Director
Andrew Nicholas Hewson Senior Independent Director
Michael Thomas Lyons Independent Non-Executive Director
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