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REDROW PLC

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Delayed London Stock Exchange  -  05/20 11:35:24 am EDT
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04/13UK's housebuilders commit $6.5 billion to fix cladding
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04/13UK's housebuilders commit $6.5 bln to fix cladding
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04/06Redrow Commits To UK Government's Pledge To Remediate Fire Safety Issues In High-Rise Buildings
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UK's Redrow sees 2022 results at pre-COVID levels on strong housing market

11/12/2021 | 04:06am EDT

(Reuters) - British homebuilder Redrow Plc said on Friday it expects its 2022 results to be similar to levels seen before the COVID-19 pandemic two years ago, helped by a pick-up in home sales and prices.

Strong demand for spacious properties amid a shift to remote working during the pandemic, along with record-low interest rates, boosted business for housebuilders.

British house prices rose for a fourth month running in October in the latest sign of strong momentum in the housing market, mortgage lender Halifax said last week.

The FTSE-250 firm said it expected its 2022 turnover to be around 2.1 billion pounds ($2.81 billion), close to 2019 levels, adding that its order book for the 19 weeks to Nov. 5 had risen 2% from a year earlier.

Shares in Redrow were up about 2% at 638 pence in early trading.

"We entered the new financial year with a robust housing market and trading has remained strong," Chairman Richard Akers said in a statement ahead of an annual general meeting.

Redrow, which now focuses on "heritage" suburban homes that feature designs and finishes popular in the late 19th and early 20th century, expects cost inflation to be around 5% for the current financial year.

(Reporting by Priyanshi Mandhan in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FTSE MID 250 INDEX 0.75% 19835.95 Delayed Quote.-16.15%
REDROW PLC 1.69% 512 Delayed Quote.-28.15%
All news about REDROW PLC
04/13UK's housebuilders commit $6.5 billion to fix cladding
RE
04/13UK's housebuilders commit $6.5 bln to fix cladding
RE
04/06Redrow Commits To UK Government's Pledge To Remediate Fire Safety Issues In High-Rise B..
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04/06Redrow, M.J. Gleeson Sign U.K. Fire-Safety Pledge
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02/24REDROW PLC : Ex-dividend day for interim dividend
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Financials
Sales 2022 2 116 M 2 637 M 2 637 M
Net income 2022 323 M 402 M 402 M
Net cash 2022 189 M 236 M 236 M
P/E ratio 2022 5,40x
Yield 2022 6,07%
Capitalization 1 729 M 2 155 M 2 155 M
EV / Sales 2022 0,73x
EV / Sales 2023 0,66x
Nbr of Employees 2 161
Free-Float 80,4%
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Mean consensus BUY
Number of Analysts 17
Last Close Price 503,50 GBX
Average target price 835,53 GBX
Spread / Average Target 65,9%
EPS Revisions
Managers and Directors
Matthew John Pratt Group CEO, COO & Director
Barbara May Richmond Group Chief Financial Officer & Executive Director
Richard John Akers Non-Executive Chairman
Andrew Nicholas Hewson Senior Independent Director
Oliver Reginald Tant Independent Non-Executive Director
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