UK housebuilders race to return to work after government eases restrictions May 14, 2020 Some of the UK’s biggest housebuilders have revealed plans to return to work after the government removed lockdown restrictions on the property market. FTSE 100 housebuilder Persimmon said this morning that its sales offices in England will reopen from tomorrow with social distancing measures in place. It comes after the government removed restrictions to allow [...]
Coronavirus: Redrow secures £300m facility through BoE’s emergency scheme April 9, 2020 Housebuilder Redrow has secured a £300m lending facility under the Bank of England’s emergency coronavirus financing scheme. The developer, which has furloughed 80 per cent of its staff using the job retention scheme, is also in talks to extend its existing revolving credit facility by £100m to £350m. Redrow said this morning that it expects [...]
Housebuilder Redrow’s profit falls 15 per cent February 5, 2020 Housebuilder Redrow hailed what it called a “robust” performance in the six months to December, despite posting a 15 per cent fall in profit amid “an uncertain political and economic background”. The figures Redrow revealed profit before tax sank 15 per cent year on year to £157m in the first half of its 2020 financial [...]
Conservative election victory sparks sharp recovery in housebuilder stocks December 13, 2019 The uncertainty surrounding Brexit and the country’s future has long been blamed as a source of the property market’s recent struggles. However a sizeable Conservative majority in the general election has already resulted in a sharp rise in housebuilder stocks. FTSE 100 firm Taylor Wimpey’s share price rose by 11.4 per cent in early morning [...]
Redrow suffers shareholder revolt over chairman role and executive pay November 6, 2019 Housebuilder Redrow suffered a shareholder revolt at its annual general meeting today as around a third of investors voted against the appointment of its executive chairman and payment plans for senior management. At the meeting in central London today, 31.38 per cent of shareholders voted against the re-appointment of John Tutte as executive chairman, while [...]
Redrow reports record results but warns over end of Help to Buy September 5, 2019 Redrow reported the sixth consecutive year of record figures this morning after the housebuilder secured a 13 per cent boost to legal competitions. The FTSE-250 property developer reported record profit and revenue figures, but warned that changes to the government’s Help to Buy scheme and Brexit uncertainty would affect trading going forward. Read more: Redrow [...]
Bellway set for revenue bump despite Brexit jitters February 7, 2019 Bellway said this morning that it was expecting a rise is sales over the year ahead, despite echoing the cautious sentiment over Brexit from many of its peers within the property industry. Buoyed by demand for affordable homes and government schemes such as Help-to-Buy, Bellway said in a trading update this morning that it expected total [...]
Redrow hails record profit as founder bows out on a high February 6, 2019 Housebuilder Redrow hailed record half-year profits before tax this morning, striking a resilient tone despite fears of greater uncertainty over Britain's imminent departure from the EU and a “subdued” Christmas. The figures In Steve Morgan’s final trading statement as chairman, the FTSE 250 developer said that pre-tax profits rose five per cent to £185m in [...]
JD Sports owner heads list of the UK’s top 50 taxpayers January 27, 2019 Financiers, hedge fund managers and housebuilders dominated a new list revealing the UK’s biggest taxpayers, published on Sunday. The Sunday Times tax list, which also includes high profile names such as David and Victoria Beckham, estimates the amount of tax paid to HMRC by the UK’s wealthiest people based on publicly available information. Read more: The [...]
Housebuilders lead the FTSE risers as no-deal Brexit risk fades December 5, 2018 Britain's largest housebuilders saw the value of their shares jump this afternoon as the prospect of a no-deal Brexit began to recede. Property heavyweights such as Berkeley Group, Persimmon and Redrow were among the top 10 FTSE risers today as a frantic 24 hours of political tussling in Westminster fuelled the possibility of a “softer” Brexit [...]