UK housebuilder Redrow has posted a record set of first-half results, including a 17% increase in revenues to £890m ($1.2m) and pre-tax profits up a quarter to to £176m. The company said it had achieved its target for the first six months of this year by increasing sales volume from last year's level by more than 50%. Crucially, however, is whether this improvement in completions can be maintained after the UK's departure from the EU without adversely impacting prices and margins, and whether the sector can weather the threat of reduced labour and demand that comes along with Brexit. ' In addition, Redrow's H2 order book is up 5% to £1.1n, and company shares rose 2.8% to 610.50p.
UK housebuilder Redrow has posted a record set of first-half results, including a 17% increase in revenues to £890m ($1.2m) and pre-tax profits up a quarter to to £176m. The company said it had achieved its target for the first six months of this year by increasing sales volume from last year's level by more than 50%. In addition, Redrow's H2 order book is up 5% to £1.1n, and company shares rose 2.8% to 610.50p.