Redrow has posted another set of record results, revealing a pre-tax profits rise of 35% to £140m ($175m) in H1 2016. The Flintshire-based company also saw a 23% increase in revenue to £739m over the same period. Meanwhile, completions rose 13% to 2,459 in the six months to December 31. The company added that demand for new homes remains strong throughout the country, off the back of improved mortgage availability and competitive rates. In terms of turnover, Redrow’s share price is up by more than 50% since its IPO, and it now trades at around $45 per share.
Redrow has posted another set of record results, revealing a pre-tax profits rise of 35% to £140m ($175m) in H1 2016. The Flintshire-based company also saw a 23% increase in revenue to £739m over the same period. Meanwhile, completions rose 13% to 2,459 in the six months to December 31. In terms of turnover, Redrow’s share price is up by more than 50% since its IPO, and it now trades at around $45 per share.