Redrow’s profit nearly doubles
REDROW’S full-year profit has nearly doubled, spurred on by the Government’s ‘Help to Buy’ housing scheme and strong consumer sentiment.
Pre-tax profit rose to £132.6m in the 12-month period ended June 30, from £69.4m a year earlier.
“The number of homes we built has increased by 27 per cent... Whilst this is clear evidence of the success of our strategy, it also shows the positive impact of the government’s Help to Buy scheme,” Chairman Steve Morgan said in a statement.
Revenue jumped 43 per cent to £864.5m, the mid-sized residential and mixed-use property developer said.