Redraw reports record results as profit doubles to £133m

摘要

Housebuilder Redrow nearly doubled pre-tax profit on sharply rising revenue of £865m in its results for the year to June. Redrow reported pre-tax profit of £133m, a rise of 91% from £69m in 2013, while its turnover rose 43%. Redrow chair Steve Morgan said both figures were the highest in the group's 40-year history. The housebuilder said it sold 3,597 homes, an increase of 27% on 2013, with the rest of the growth in revenue coming from a 13% rise in the average selling price of its homes to £239,500. Redrow said it had increased its staff by 21% to meet the growing demand, fuelled by the government Help to Buy scheme, which was used in 35% of the firm's private sales.