Housebuilder Redrow – with developments across Yorkshire​, the Humber and North Lincolnshire – ​is forecasting a year of significant ​growth after posting increased revenues of 23​ per cent​, ​​taking turnover to £739m​ for the ​six months to December 31st 2016, ​and pre-tax profits up 35​ per cent​ to £140​m. Founder and chairman Steve Morgan ​said, “Redrow delivered a robust performance in the first half, producing another set of record results. In the last six months legal completions increased by 13% to 2,459 adding to the country’s much needed supply of new homes. At the beginning of February we purchased Radleigh Homes a regional housebuilder based in the East Midlands. Radleigh is an excellent fit given its geographical location and high quality market position. Radleigh will form the basis of a new division for the Group. We entered the second half with a record order book, and customer traffic and sales remain robust. Given the strength of our sales position and land holdings our growth strategy is firmly on track, giving me every confidence this will be another year of significant progress for Redrow.”
Redrow has forecast the six month of growth after increasing its revenue by 23% to reach £739m ($921m) for the second half of 2016. The firm's pre-tax profits also increased 35% to £140m. The company completed 2,459 homes in a successful year period, an increase of 13%. Redrow purchased East Midlands-based house-builder Radleigh Homes at the beginning of February 2017.