Redrow PLC (LSE:RDW)
£ 7.275 0.105 (1.46%) Market Cap: 2.41 Bil Enterprise Value: 2.18 Bil PE Ratio: 11.29 PB Ratio: 1.19 GF Score: 76/100
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Half Year 2021 Redrow PLC Earnings Call Transcript

Feb 10, 2021 / 09:00AM GMT
Release Date Price: £5.5 (-3.76%)
Matthew Brennan;Pratt
Redrow plc - Group Chief Executive & Executive Director

Good morning, everybody. I hope you are all safe and well. So my name, for those who don't know me, Matthew Pratt, Group Chief Executive. I'm joined today by Barbara Richmond, Group Finance Director; and of course, John Tutte, our Chairman. So I'll start by summarizing the highlights of today's results, and then we'll move to questions.

Clearly, we're delighted to announce a strong first half performance whilst continuing to operate under strict COVID-secure measures. The pandemic and returning to activity has absolutely confirmed that we have the right products, in the right place, at the right time. Completions were 20% ahead at 3,065 homes, and we delivered a 20% increase in group revenue to GBP 1.041 billion due to our strong opening order book and resilient demand. We also achieved a pretax profit of GBP 174 million, an 11% increase on last year. The performance has been driven by focusing on what we do best, which is building highly desirable, high-quality homes across England and Wales.

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