Industry veteran Steve Morgan retires from housebuilder Redrow November 7, 2018 While much of today’s property talk has revolved around the bonus-related resignation of Persimmon boss Jeff Fairburn, rival housebuilder Redrow also bid its farewell to founder and chairman Steve Morgan. The industry veteran, who set up the FTSE 250 company in 1974, revealed he was retiring this morning a decade on from returning to the [...]
Forget slowing UK house prices, Redrow just doubled its profits February 11, 2015 The figures Redrow, the British housebuilder, has revealed a bumper set of half-year results (to 31 December) this morning, showing revenue up 54 per cent to £560.6m and pre-tax profit up 92 per cent to £91.2m, in a rosy assessment of the market’s demand for new homes. The impressive results allowed the group to double [...]
Redrow warns of slowdown as housing boom spurred by Help-to-Buy fades away November 10, 2014 HOUSEBUILDER Redrow warned yesterday it has seen a drop in sales over the summer as the effects of the government’s Help-to-Buy scheme began to wear off. Chairman Steve Morgan said the demand for new homes generated by the launch of the equity loan scheme in 2013 reverted to “a more normal level of activity” in [...]
Housebuilder Redrow posts record profits September 2, 2014 REDROW posted record sales and profits yesterday after government measures designed to stimulate the housing market boosted the firm’s number of completions last year by 27 per cent. The Flintshire-based housebuilder said it completed 3,597 sales in the 12 months to 30 June, compared with 2,827 the previous year thanks to the government’s Help-to-Buy scheme, [...]
UK property market: Redrow share price rises as it posts 91 per cent profit increase September 2, 2014 Despite recent signs of slowing growth in house prices, housebuilders are still riding a healthy property market wave – Redrow is the latest to post stellar results, with a 91 per cent rise in profits. Help to Buy helped the housebuilder make a record £132.6m pre-tax profit for the year to June, compared with £69.4m [...]