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

REDROW PLC

(RDW)
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Redrow : Homebuilder Redrow's annual profit slumps, to resume dividend payout in 2021

09/16/2020 | 02:56am EST
The company logo of construction company Redrow is pictured on a flag at a new housing development near Manchester northern England.

British homebuilder Redrow Plc reported a 66% plunge in annual profit on Wednesday, while promising to renew dividend payouts next year as it halts investments in London and focuses on its Heritage Collection homes.

A shift in consumer demand after the COVID-19 pandemic prompted Redrow to shrink its London operations in June to focus on higher return giving regional businesses and its 'Heritage' line - suburban homes designed in period style features that have more spacious interiors.

"We have completed substantially more homes in the first few weeks of the new financial year than during the comparable period last year whilst maintaining a record order book as a result of keen demand for our Heritage Collection homes," the company said in a statement.

Redrow said that reduction in home completions, revenue, costs related to temporary closure of its developments and impairment costs arising contributed to profit fall.

The company completed 4,032 homes in the full year ended June 30, compared with 6,443 in the previous year, while pretax profit slumped to 140 million pounds ($180.54 million) from 406 million pounds it reported last year.

Revenue tumbled 37% to 1.34 billion pounds.

(Reporting by Samantha Machado in Bengaluru; Editing by Rashmi Aich)


© Reuters 2020
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Financials
Sales 2021 1 802 M 2 552 M 2 552 M
Net income 2021 228 M 322 M 322 M
Net cash 2021 75,3 M 107 M 107 M
P/E ratio 2021 8,85x
Yield 2021 3,57%
Capitalization 1 940 M 2 734 M 2 747 M
EV / Sales 2021 1,03x
EV / Sales 2022 0,93x
Nbr of Employees 2 364
Free-Float 77,7%
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Technical analysis trends REDROW PLC
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 17
Average target price 688,75 GBX
Last Close Price 565,00 GBX
Spread / Highest target 56,6%
Spread / Average Target 21,9%
Spread / Lowest Target -11,5%
EPS Revisions
Managers and Directors
NameTitle
Matthew John Pratt Group CEO, COO & Director
Barbara May Richmond Group Chief Financial Officer & Executive Director
John Frederick Tutte Non-Executive Chairman
Andrew Nicholas Hewson Senior Independent Director
Michael Thomas Lyons Independent Non-Executive Director
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