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 2022 Redrow PLC Earnings Call Transcript

Feb 10, 2022 / 07:00AM GMT
Release Date Price: £6.17 (-1.28%)
Matthew Brennan;Pratt
Redrow plc - Group Chief Executive & Executive Director

Good morning, everyone. I hope you're all safe and well. Welcome to Redrow's interim results presentation. A recording of this presentation will be available on Redrow plc website, and we'll be doing an in-person, analyst Q&A, later this morning.

Turning to the agenda. As usual, I'll begin by covering the overview before handing over to Barbara for the financial review. I'll then conclude the presentation with the operating review and outlook.

Firstly, the financial overview. We increased our profit before tax by 17% to GBP 203 million. This was achieved with an operating margin of 19.5% for the first 6 months, and we expect a similar margin in the second half. The value of our first half reservations was GBP 884 million, an increase of 6% from the same period last year. As a result of this strong performance, I'm pleased to say the Board has declared an interim dividend of 10.0p, up 67% as we return to a normal 33:67 interim and final dividend payment ratio.

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